83 FR 51520 - Securities Exchange Act of 1934

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 197 (October 11, 2018)

[Federal Register Volume 83, Number 197 (Thursday, October 11, 2018)]
[Notices]
[Page 51520]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-22094]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84369]


Securities Exchange Act of 1934

October 4, 2018.
    In the Matter of the NYSE Arca, Inc.; Order Scheduling Filing of 
Statements on Review for an Order of Disapproval of Proposed Rule 
Change To List and Trade the Shares of the ProShares Bitcoin ETF and 
the ProShares Short Bitcoin ETF (File No. SR-NYSEArca-2017-139).
    On December 4, 2017, NYSE Arca Inc. (``NYSE Arca'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act (``Exchange Act'') \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to list and trade 
shares of the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF 
issued by the ProShares Trust II under NYSE Arca Rule 8.200-E, 
Commentary .02. The proposed rule change was published for comment in 
the Federal Register on December 26, 2017.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 82350 (Dec. 19, 
2017), 82 FR 61100 (Dec. 26, 2017).
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    On January 30, 2018, pursuant to Section 19(b)(2) of the Exchange 
Act,\4\ the Commission designated a longer period within which to 
approve the proposed rule change, disapprove the proposed rule change, 
or institute proceedings to determine whether to approve or disapprove 
the proposed rule change.\5\ On March 23, 2018, the Commission 
instituted proceedings under Section 19(b)(2)(B) of the Exchange Act 
\6\ to determine whether to approve or disapprove the proposed rule 
change.\7\ On June 15, 2018, the Commission extended the period for 
consideration of the proposed rule change to August 23, 2018.\8\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 82602 (Jan. 30, 
2018), 83 FR 4941 (Feb. 2, 2018).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 82939 (Mar. 23, 
2018), 83 FR 13537 (Mar. 29, 2018).
    \8\ See Securities Exchange Act Release No. 83452 (June 15, 
2018), 83 FR 28894 (June 21, 2018).
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    On August 22, 2018, the Division of Trading and Markets, pursuant 
to delegated authority,\9\ issued an order disapproving the proposed 
rule change.\10\ On August 23, 2018, the Secretary of the Commission 
notified NYSEArca that, pursuant to Commission Rule of Practice 
431,\11\ the Commission would review the Division's action pursuant to 
delegated authority and that the Division's action pursuant to 
delegated authority had been automatically stayed.\12\
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    \9\ 17 CFR 200.30-3(a)(12).
    \10\ See Securities Exchange Act Release No. 83904 (Aug. 22, 
2018), 83 FR 43934 (Aug. 28, 2018) (SR-NYSEArca-2017-139) 
(``Disapproval Order'').
    \11\ See 17 CFR 201.431(c).
    \12\ See Letter from Secretary of the Commission to David De 
Gregorio, Senior Counsel, NYSE Group, Inc. (Aug. 23, 2018), 
available at https://www.sec.gov/rules/sro/nysearca/2018/34-83904-letter-from-secretary.pdf.
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    Accordingly, it is ordered, pursuant to Commission Rule of Practice 
431, that by November 5, 2018, any party or other person may file a 
statement in support of, or in opposition to, the action made pursuant 
to delegated authority.
    It is further ordered that the order disapproving proposed rule 
change SR-NYSEArca-2017-139 shall remain in effect pending the 
Commission's review.

    By the Commission.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-22094 Filed 10-10-18; 8:45 am]
 BILLING CODE 8011-01-P