Here’s what happened in crypto today

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Ethereum Name Service (ENS) developers warn Unstoppable Domains: Drop patents or face a lawsuit. Meanwhile, asset manager WisdomTree has filed an amended Form S-1 spot Bitcoin exchange-traded fund (ETF) prospectus with the United States Securities and Exchange Commission, and Europe-based CoinShares has the exclusive option to buy the U.S.-based Valkyrie Funds.

ENS devs warn Unstoppable Domains: Drop patents or face lawsuit

ENS founder and lead developer Nick Johnson recently posted an open letter on X (formerly Twitter) urging Web3 firm Unstoppable Domains to relinquish a blockchain tech patent or else face potential litigation.

Unstoppable Domains received its first U.S. patent in January 2023. According to the patent, Braden River Pezeshki, Matthew Everett Gould and Bogdan Gusiev are the inventors of a technology that uses blockchain technology to determine domains.

Johnson disputes this claim and says ENS is the rightful creator of the patent. The ensuing discussion laid bare the disconnect between the two companies.

WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto awaits SEC decisions

WisdomTree filed an amended Form S-1 spot Bitcoin (BTC) ETF prospectus with the SEC on Nov. 16.

The update comes a few months after WisdomTree refiled its spot Bitcoin ETF application in June 2023, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust on the BZX Exchange by the Chicago Board Options Exchange.

The amended prospectus mentions that the WisdomTree Bitcoin Trust ETF will trade under a ticker symbol BTCW, with Coinbase Custody Trust serving as the custodian holding all of the trust’s Bitcoin on its behalf.

According to Bloomberg ETF analyst James Seyffart, the updated filing means that the firm is still planning to launch an ETF and is discussing the opportunity with the SEC.

“All issuers were expected to have to file one of these to potentially launch their ETF at some point. Just a step in the process. Nothing critical,” Seyffart wrote on X.

Another Bloomberg ETF expert, Eric Balchunas, noticed that WisdomTree took “long enough” to amend its Form S-1. “Please tell me the SEC isn’t waiting till all S-1s are updated before issuing a second round of comments,” he added.

CoinShares gets rights to buy Valkyrie’s crypto ETFs

European digital asset manager CoinShares secured the exclusive option to acquire Valkyrie Funds, the ETF unit of its U.S. competitor Valkyrie Investments.

Valkyrie has a spot Bitcoin ETF awaiting approval with the SEC — CoinShares thinks the U.S. could soon become the epicenter for ETF offerings.

CoinShares CEO Jean-Marie Mognetti said he hopes the Valkyrie acquisition will help it capitalize on a fragmented global ETF market.

The option will remain active until March 31, 2024. Valkyrie Funds will continue to operate as an independent entity until CoinShares’ acquisition is finalized.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.