Grayscale surprises by submitting modified application for a Bitcoin ETF, omitting details about authorized participants.
Cryptocurrency asset manager Grayscale has filed an amended application for a Bitcoin exchange-traded fund (ETF). Generating surprise by not revealing the details of the authorized participants in the documentation filed with the United States Securities and Exchange Commission (SEC).
Bloomberg Senior ETF Analyst Eric Balchunas highlighted the revised filing on social media. Noting that Grayscale specified that authorized participants could only pay and receive cash for ETF shares. However, the company left the names of those authorized participants blank, a detail the SEC usually expects to see in filings.
“I’m not sure why, since the SEC wants to see it and they’ve been pretty confident about having one. Also, no payout (that I could see). That’s a big open question too,” Balchunas said.
Udi Wertheimer Passionately Defends Bitcoin Ordinals
Udi Wertheimer defends the permanence of Bitcoin Ordinals and challenges those who seek their elimination. Despite criticism and skepticism towards the concept of Ordinals, which resemble non-fungible tokens (NFTs) but operate on the Bitcoin blockchain, the cryptocurrency advocate argues that these should be valued and explored.
In a post on X, Wertheimer stresses that he is not trying to persuade others about the legitimacy of the inscriptions/BRC20s/stamps. He additionally acknowledges that there are divergent opinions on whether they are spam or scams.
Wertheimer’s lengthy post on X starts as follows:
“HOW TO KILL ORDINALS
I’ve been contacted by multiple laser-eye maxis, and some bitcoin developers, who tried to understand ‘what’s going on’ and ‘how can we stop this’.”
The expert urges the community not to underestimate the enthusiasts and developers involved in the Ordinals space, highlighting the skill of many teams in the development. Encouraging his 183,400 followers, Wertheimer urges them to experiment with Bitcoin Ordinals.
Mickey Mouse’s Steamboat Willie in the Public Domain, but with Limitations
Mickey Mouse’s 1928 version of “Steamboat Willie” has arrived on OpenSea. Despite the celebration, a lawyer warns that although this version is in the public domain, there are important legal limitations. The Mickey Mouse brand and trademark remain private, placing restrictions on the creation of derivative products.
While the prospect of using the 1928 version of Mickey Mouse has many excited, Oscar Franklin Tan, chief legal officer at Atlas, a core contributor to NFT platform Enjin, cautions that there are legal limitations that should not be overlooked.
Tan points out that under US law, only the specific 1928 depiction of Mickey Mouse, with its black-and-white features, longer nose and no gloves, is in the public domain. However, he emphasizes that the trademark and brand, separate from the character, are still private. In other words, although the 1928 version can be used, creating original Mickey Mouse products is not as easy as it seems.
Stake Takes Lead Role in Formula 1 and Appropriates Naming Rights to Sauber Car for Next Two Years
Cryptocurrency betting and casino platform Stake secures a prominent place in Formula 1 for the next two years by securing the naming rights to the Sauber car. Replacing Alfa Romeo, Stake will occupy this space before Sauber becomes Audi’s factory team in 2026.
The team will officially be known as Stake F1 Team Kick Sauber, marking its presence in the 2024 season with a scheduled launch in London in February 2024.
By Audy Castaneda
