VanEck has announced that if its proposal for a spot
Bitcoin ETF is approved, the asset management firm will allocate 5% of the
fund’s profits to support Bitcoin developers.
VanEck’s application for a spot Bitcoin ETF in the
United States is among several others awaiting validation from the US
Securities and Exchange Commission (SEC). The imminent approval of such a fund’s listing is
poised to attract unprecedented investment from traditional finance into cryptocurrencies.
Acknowledging the potential surge in investment,
VanEck’s pledge to donate a percentage of ETF profits mirrors its prior
commitment to Ethereum developers, Coindesk reported. Its dedication to contributing 10% of profits from
an ether futures ETF to the Ethereum ecosystem last year highlighted the firm’s
involvement in supporting the fundamental layers of major cryptocurrencies.
We’re not Bitcoin tourists at VanEck. We’re in it for the long haul. That’s why we made an initial $10k donation and signed a pledge to donate 5% of our Bitcoin ETF profits (if approved) to support Bitcoin Core devs @bitcoinbrink for at least 10 years. Your tireless dedication to…
— VanEck (@vaneck_us) January 5, 2024
Expect ongoing updates as this story evolves.
VanEck has announced that if its proposal for a spot
Bitcoin ETF is approved, the asset management firm will allocate 5% of the
fund’s profits to support Bitcoin developers.
VanEck’s application for a spot Bitcoin ETF in the
United States is among several others awaiting validation from the US
Securities and Exchange Commission (SEC). The imminent approval of such a fund’s listing is
poised to attract unprecedented investment from traditional finance into cryptocurrencies.
Acknowledging the potential surge in investment,
VanEck’s pledge to donate a percentage of ETF profits mirrors its prior
commitment to Ethereum developers, Coindesk reported. Its dedication to contributing 10% of profits from
an ether futures ETF to the Ethereum ecosystem last year highlighted the firm’s
involvement in supporting the fundamental layers of major cryptocurrencies.
We’re not Bitcoin tourists at VanEck. We’re in it for the long haul. That’s why we made an initial $10k donation and signed a pledge to donate 5% of our Bitcoin ETF profits (if approved) to support Bitcoin Core devs @bitcoinbrink for at least 10 years. Your tireless dedication to…
— VanEck (@vaneck_us) January 5, 2024
Expect ongoing updates as this story evolves.
