VanEck Commits to Donating 5% of BTC ETF Profits to Bitcoin Developers at Brink Asset manager
VanEck, a potential provider of a Bitcoin exchange-traded
fund (ETF), has revealed plans to donate a portion of the profits from the investment vehicle to Bitcoin core developers upon approval.
In a post on X (formerly Twitter) on January 5,
VanEck announced a 5% pledge to Bitcoin core developers through the nonprofit organization Brink ahead of potential approval for its spot Bitcoin exchange-traded product application. The asset management firm also disclosed that it had already made a $10,000 donation to the developers, irrespective of the SEC’s decision on the investment
vehicle. The firm expressed appreciation for the
developers’ dedication to decentralization and innovation, describing them as the cornerstone of the
Bitcoin ecosystem. VanEck applied for a spot Bitcoin ETF in the United States, with a decision from the U.S. Securities and
Exchange Commission (SEC) expected in the coming days. The potential approval of spot Bitcoin ETFs is anticipated to bring a substantial influx of investment from traditional finance
(TradFi) into the cryptocurrency space, reaching unprecedented levels.
