ActiveShares® ETF Trust
620 Eighth Avenue
New York, New York 10018
February 24, 2020
VIA EDGAR
United States Securities and Exchange Commission
Division of Investment Management
100 F Street, NE
Washington, DC 20549
| Re: | ActiveShares® ETF Trust |
| Pre-Effective Amendment No. 2 to the |
| Registration Statement on Form N-1A |
| (File Nos. 333-234497 and 811-23487) |
Ladies and Gentlemen:
Pursuant to Rule 461 of the General Rules and Regulations under the Securities Act of 1933, as amended, ActiveShares® ETF Trust (the “Registrant”), a Maryland statutory trust, hereby requests that the effective date of Pre-Effective Amendment No. 2 to the Registration Statement on Form N-1A (the “Registration Statement”) that was filed with the SEC on January 27, 2020 on behalf of the Registrant for the purpose of registering shares of the ClearBridge Focus Value ETF (the “Fund”) (Accession No. 0001193125-20-015437), be accelerated so that such Post-Effective Amendment may become effective on February 26, 2020, or as soon thereafter as practicable.
Sincerely,
ActiveShares® ETF Trust
By: /s/ Jane Trust
Name: Jane Trust
Title: President and Chief Executive Officer
Legg Mason Investor Services, LLC
100 International Drive
Baltimore, Maryland 21202
February 24, 2020
VIA EDGAR
United States Securities and Exchange Commission
Division of Investment Management
100 F Street, NE
Washington, DC 20549
| Re: | ActiveShares® ETF Trust |
| Pre-Effective Amendment No. 2 to the |
| Registration Statement on Form N-1A |
| (File Nos. 333-234497 and 811-23487) |
Ladies and Gentlemen:
Pursuant to Rule 461 of the General Rules and Regulations under the Securities Act of 1933, as amended, Legg Mason Investor Services, LLC, as distributor to ActiveShares® ETF Trust (the “Registrant”), a Maryland statutory trust, hereby requests that the effective date of Pre-Effective Amendment No. 2 to the Registration Statement on Form N-1A (the “Registration Statement”) that was filed with the SEC on January 27, 2020 on behalf of the Registrant for the purpose of registering shares of the ClearBridge Focus Value ETF (the “Fund”) (Accession No. 0001193125-20-015437), be accelerated so that such Post-Effective Amendment may become effective on February 26, 2020, or as soon thereafter as practicable.
Sincerely,
Legg Mason Investor Services, LLC
By: /s/ Kenneth Cieprisz
Name: Kenneth Cieprisz
Title: Vice President and Chief Compliance Officer