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Notice2025-125182025-07-07

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1 Thereto, To Amend NYSE Arca Rule 8.500-E (Trust Units) and To List and Trade Shares of the Grayscale Digital Large Cap Fund LLC Under Amended NYSE Arca Rule 8.500-E (Trust Units)

Securities and Exchange Commission

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Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-103364; File No. SR-NYSEARCA-2024-87] July 1, 2025. I. Introduction Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Exchange Act”)  [ 1 ] and Rule 19b-4 thereunder, [ 2 ] NYSE Arca, Inc. (“NYSE Arca” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) a proposed rule change, as modified by Amendment No. 1 (“Proposal”), to amend NYSE Arca Rule 8.500-E (Trust Units) and to list and trade shares (“Shares”) of the Grayscale Digital Large Cap Fund LLC (“Fund”) under amended NYSE Arca Rule 8.500-E. [ 3 ] The Proposal was published for comment in the Federal Register . [ 4 ] This order approves the Proposal on an accelerated basis. II. Description of the Proposal A. Amendments to NYSE Arca Rules 8.500-E and 5.3-E As described in more detail in the Amendment No. 1, [ 5 ] the Exchange proposes to amend NYSE Arca Rule 8.500-E (Trust Units). First, the Exchange proposes to revise the definition of “Trust Units.” Currently, the rule provides that Trust Units are securities “issued by a trust or similar entity that is constituted as a commodity pool that holds investments comprising or otherwise based on any combination of futures contracts, options on futures contracts, forward contracts, swap contracts, commodities and/or securities.”  [ 6 ] The Exchange proposes to a

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Citation: 90 FR 29923