VanEck to donate 10% of Ethereum Strategy ETF profits to core devs

VanEck announced its intention to donate 10% of its Ethereum Strategy exchange-traded fund to The Protocol Guild.Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.VanEck intends to donate 10% of its Ethereum Strategy exchange-traded fund to The Protocol Guild, a collective of 152 Ethereum core protocol contributors, for a minimum of 10 years.

"If TradFi stands to gain from the efforts of Ethereum's core contributors, it makes sense that we also give back to their work," the New York City-based asset manageron X ."We urge other asset managers/ETF issuers to consider also giving back in the same way." VanEck also thanked the Ethereum contributors"for nearly a decade of relentless building & ongoing stewardship of this common infrastructure.""This is kinda insane, never would've expected to see it in a million years," Delegate founder 0xfoobaron X."Ethereum alignment is an incredibly value-accretive narrative, rare to see such large institutions understand this.

"Very cool to see a TradFi company directly fund Ethereum core development out of its profits," Tim Beiko, who runs Ethereum core protocol meetings, also"Hope they can set an example for the many businesses in the space that are built on top of open protocolto launch its Ethereum Strategy ETF , which focuses on ether futures contracts. It is slated to be listed on CBOE and actively managed by VanEck head of active trading Greg Krenzer.

Source: Digital Coin News (digitalcoinnews.net)

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