ENS Contests Unstoppable Domains Patent; WisdomTree Updates ETF Filing; CoinShares Eyes Valkyrie Acquisition
Summary:
Developers of Ethereum Name Service (ENS) have urged Web3 company Unstoppable Domains to forgo a contested blockchain tech patent or face legal action. Simultaneously, WisdomTree filed an updated Form S-1 spot Bitcoin ETF to the SEC, while European-based CoinShares secured exclusive rights to purchase U.S.-based Valkyrie Funds. These developments signal ongoing activities and competitions within the blockchain, crypto ETF, and digital asset management space.
Developers of Ethereum Name Service (ENS) have called on Web3 company, Unstoppable Domains, to renounce a blockchain tech patent or risk lawsuit. Concurrently, Asset management firm WisdomTree has submitted a revised Form S-1 spot Bitcoin ETF proposal to the U.S. Securities and Exchange Commission (SEC). In another development, European-based CoinShares holds the exclusive acquisition rights to U.S.-based Valkyrie Funds.
The heads-up to Unstoppable Domains was made by ENS founder and chief developer, Nick Johnson, via an open letter on the X platform (previously Twitter). Johnson's challenge stems from his belief that the patent, granted to Unstoppable Domains in January 2023, is derivative of ENS tech, a claim the ENS team stands ready to prove in court if necessary.
Braden River Pezeshki, Matthew Everett Gould, and Bogdan Gusiev, the claimed inventors of the patented technology, propose using blockchain tech to determine domain names. Disputing this attribution, Johnson maintains that ENS is the rightful originator of the patented tech.
Turning to ETF news, WisdomTree has lodged an updated Form S-1 spot Bitcoin ETF with the SEC. The amendment follows the re-submission of its spot Bitcoin ETF proposal in June 2023, suggesting an impending rule adjustment to list and trade shares of the WisdomTree Bitcoin Trust via the BZX Exchange operated by the Chicago Board Options Exchange.
The revised S-1 makes provisions for the WisdomTree Bitcoin Trust ETF to trade under ticker symbol BTCW, with Coinbase Custody Trust acting as custodian, storing all Trust's Bitcoin. According to Bloomberg ETF analyst, James Seyffart, the updated S-1 build-up by WisdomTree signifies their continuous expectation to launch an ETF, and ongoing dialogue with the SEC on the matter.
Lastly, European digital asset manager, CoinShares, has obtained exclusive rights to purchase Valkyrie Funds, a subset of U.S. rival Valkyrie Investments. Anticipating the U.S. as an emergent hub for ETF offerings, CoinShares asserts that the potential acquisition of Valkyrie will allow it to effectively harness opportunities in the segmented global ETF Market. The acquisition option is valid until March 31, 2024, with Valkyrie funds operating independently until the finalization of CoinShares' acquisition.
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Published At
11/17/2023 7:40:58 PM
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