Asset management firm VanEck has announced its commitment to donate 5% of the profits from its proposed spot Bitcoin ETF, if approved, to support core Bitcoin developers. A similar pledge has been made for Ethereum developers in relation to its Ether Futures ETF.
This pledge demonstrates VanEck’s dedication to the larger Bitcoin ecosystem, with the firm stating it will support Bitcoin developers for at least a decade. The company has already initiated this commitment, making an initial $10,000 donation to Brink, an independent non-profit that supports the open-source development of Bitcoin. VanEck’s application for a spot Bitcoin ETF is currently one of over a dozen awaiting a decision by the United States Securities and Exchange Commission.
VanEck is also motivated to contribute to Bitcoin’s development. As the asset and network strengthen, it could enhance the attractiveness of the asset and its associated ETF to potential customers. The firm has expressed its long-term commitment to Bitcoin, stating, “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.”
Through this initiative, VanEck aims to support developers in fostering innovation, security, and resilience within the Bitcoin network. This initiative signifies not only a financial commitment to the Bitcoin ecosystem but also a long-term vision towards contributing to the evolution and longevity of Bitcoin.
VanEck’s pledge to donate 5% of its profits to support core Bitcoin developers has received significant praise from the larger Bitcoin community, which has commended VanEck for its proactive stance and recognition of the crucial role played by Bitcoin Core developers. These developers play a vital role in the development of the Bitcoin protocol, ensuring its robustness and adaptability.
The decision to allocate a portion of profits to support Bitcoin developers highlights a growing trend among corporate entities. These firms have recognized the importance of investing in the growth and sustainability of Bitcoin. As companies prepare for a potential Bitcoin ETF, VanEck’s pledge could have a significant impact on the Bitcoin development landscape.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | None |
| Companies | Brink, VanEck, United States Securities and Exchange Commission |
| Currencies | Bitcoin, Ethereum |
| Securities | None |
