Self-Regulatory Organizations; NYSE American LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Certain Rules Related to Flexible Exchange Options on the Grayscale Bitcoin Trust

---
identifier: "/us/fr/2025-02557"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Self-Regulatory Organizations; NYSE American LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Certain Rules Related to Flexible Exchange Options on the Grayscale Bitcoin Trust"
title_number: 0
title_name: "Federal Register"
section_number: "2025-02557"
section_name: "Self-Regulatory Organizations; NYSE American LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Certain Rules Related to Flexible Exchange Options on the Grayscale Bitcoin Trust"
positive_law: false
currency: "2025-02-13"
last_updated: "2025-02-13"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Securities and Exchange Commission"
document_number: "2025-02557"
document_type: "notice"
publication_date: "2025-02-13"
agencies:
  - "Securities and Exchange Commission"
fr_citation: "90 FR 9570"
fr_volume: 90
docket_ids:
  - "Release No. 34-102376"
  - "File No. SR-NYSEAMER-2024-78"
---


#  Self-Regulatory Organizations; NYSE American LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Certain Rules Related to Flexible Exchange Options on the Grayscale Bitcoin Trust

On December 13, 2024, NYSE American LLC filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) [^1] and Rule 19b-4 thereunder, [^2] a proposed rule change to permit Flexible Exchange (“FLEX”) options on shares of the Grayscale Bitcoin Trust. The proposed rule change was published for comment in the *Federal Register* on December 27, 2024. [^3] The Commission has received no comments on the proposed rule change.

[^1] 15 U.S.C. 78s(b)(1).

[^2] 17 CFR 240.19b-4.

[^3]*See* Securities Exchange Act Release No. 102014 (Dec. 20, 2024), 89 FR 105669.

Section 19(b)(2) of the Act [^4] provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding, or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for this proposed rule change is February 10, 2025. The Commission is extending this 45-day time period.

[^4] 15 U.S.C. 78s(b)(2).

The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, [^5] designates March 27, 2025, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR-NYSEAMER-2024-78).

[^5]*Id.*

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. [^6]

[^6] 17 CFR 200.30-3(a)(31).

Sherry R. Haywood,

Assistant Secretary.