60 Day Notice

Federal Register / Vol. 87, No. 25 / Monday, February 7, 2022 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–802, OMB Control No.
3235–0758]

jspears on DSK121TN23PROD with NOTICES1

Proposed Collection; Comment
Request; Extension: Rule 30e–3
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘Paperwork
Reduction Act’’), the Securities and
Exchange Commission (the
‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Section 30(e) of the Investment
Company Act of 1940 (15 U.S.C. 80a–1
et seq.) (‘‘Investment Company Act’’)
requires a registered investment
company (‘‘fund’’) to transmit to its
shareholders, at least semi-annually,
reports containing financial statements
and other financial information as the
Commission may prescribe by rules and
regulations. Rules 30e–1 (17 CFR
270.30e–1) and 30e–2 (17 CFR 270.30e–
2) under the Investment Company Act
require most funds to send their
shareholders annual and semiannual
reports containing financial information
on the fund.
Rule 30e–3 (17 CFR 270.30e–3) under
the Investment Company Act (15 U.S.C.
80a–1 et seq.) provides certain funds
and unit investment trusts with an
optional method to satisfy shareholder
report transmission requirements by
making such reports and certain other
materials publicly accessible on a
website, as long as they satisfy certain
other conditions of the rule regarding:
(a) Availability of the report and other
materials; (b) notice to investors of the
website availability of the report; and (c)
delivery of paper copies of materials
upon request. Reliance on the rule is
voluntary. Responses to the disclosure
requirements are not kept confidential.
The Commission estimates that
13,079 funds could rely on rule 30e–3.
Of these funds, we estimate that 90% (or
11,771 funds) are currently relying on
rule 30e–3. With respect to these 11,771
funds, we estimate that 90% (or 10,594
funds) already post shareholder reports
on their websites for other purposes. In
total, rule 30e 3 will impose an average
total annual hour burden of 24,719

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hours on applicable funds. Based on the
Commission’s estimate of 24,719 hours
and an estimated wage rate of about
$362 per hour, the total annual cost to
registrants of the hour burden for
complying with rule 30 3 is about $8.9
million.
Estimates of average burden hours are
made solely for the purposes of the
Paperwork Reduction Act and are not
derived from a comprehensive or even
representative survey or study of the
costs of Commission rules and forms.
The collection of information under rule
30e–3 is mandatory. The information
provided under rule 30e–3 will not be
kept confidential. An agency may not
conduct or sponsor, and a person is not
required to respond to, a collection of
information unless it displays a
currently valid OMB control number.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
Please direct your written comments
to David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, C/O John R.
Pezzullo, 100 F Street NE, Washington,
DC 20549; or send an email to: PRA_
Mailbox@sec.gov.
Dated: February 2, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–02502 Filed 2–4–22; 8:45 am]
BILLING CODE 8011–01–P

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6903

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–94126; File No. SR–
NYSEArca–2021–89]

Self-Regulatory Organizations; NYSE
Arca, Inc.; Order Instituting
Proceedings To Determine Whether To
Approve or Disapprove a Proposed
Rule Change To List and Trade Shares
of the Bitwise Bitcoin ETP Trust Under
NYSE Arca Rule 8.201–E
February 1, 2022.

On October 14, 2021, NYSE Arca, Inc.
(‘‘NYSE Arca’’ or ‘‘Exchange’’) 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 list and trade shares
(‘‘Shares’’) of the Bitwise Bitcoin ETP
Trust (‘‘Trust’’) under NYSE Arca Rule
8.201–E (Commodity-Based Trust
Shares). The proposed rule change was
published for comment in the Federal
Register on November 3, 2021.3
On December 15, 2021, pursuant to
Section 19(b)(2) of the 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 disapprove the
proposed rule change.5 This order
institutes proceedings under Section
19(b)(2)(B) of the Act 6 to determine
whether to approve or disapprove the
proposed rule change.
I. Summary of the Proposal
As described in more detail in the
Notice,7 the Exchange proposes to list
and trade the Shares of the Trust under
NYSE Arca Rule 8.201–E, which
governs the listing and trading of
Commodity-Based Trust Shares on the
Exchange.
The investment objective of the Trust
is to seek to provide exposure to the
value of bitcoin held by the Trust, less
the expenses of the Trust’s operations.8
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 93445
(Oct. 28, 2021), 86 FR 60695 (‘‘Notice’’). No
comments have been received on the proposed rule
change.
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 93790,
86 FR 72300 (Dec. 21, 2021). The Commission
designated February 1, 2022, as the date by which
it should approve, disapprove, or institute
proceedings to determine whether to disapprove the
proposed rule change.
6 15 U.S.C. 78s(b)(2)(B).
7 See Notice, supra note 3.
8 See id. at 60696. Bitwise Investment Advisers,
LLC (‘‘Sponsor’’) is the sponsor of the Trust, and
2 17

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