VanEck to Donate 10% of Ethereum ETF Profits to Protocol Guild for 10 Years

VanEck announces its plan to donate 10% of Ethereum ETF profits to Ethereum's Protocol Guild for 10 years. This move has sparked potential marketing competition among Ethereum ETFs.

Posted 9 months ago in Ethereum

A picture illustrating the donation concept: A pile of Ethereum coins with a hand offering a portion of coins to another hand.

Asset management VanEck has announced that it will donate 10% of the profit from its Ethereum Futures ETF to Ethereum's Protocol Guild for at least 10 years. This revelation comes at a time when the market is expecting the launch of several futures ETFs. In a statement on September 29, VanEck expressed its intention to contribute a portion of its profit to Ethereum's protocol guild as a gesture of appreciation for their contribution to the network's infrastructure. The protocol guild consists of 152 members who have played a significant role in building and maintaining Ethereum's core protocol over the past decade, including their involvement in recent upgrades such as the Merge and Shanghai.

The donation from VanEck also coincides with their plan to launch an Ethereum Futures ETF product in the coming week. While the fund is currently effective, it is not yet available for trading. VanEck has promised to provide more details soon regarding the trading availability. It is worth noting that VanEck's donation offer may spark a marketing competition among the upcoming Ethereum Future ETFs, as Bloomberg analyst James Seyfarrt suggests. VanEck had previously released a TV commercial for their Ethereum Strategy ETF, creating anticipation among viewers for its imminent launch.

As Ethereum futures ETFs gain traction and recognition from investors, the U.S. Securities and Exchange Commission (SEC) is expected to approve an Ether futures ETF before the government shutdown. This development aligns with the SEC's desire to expedite the launch of Ether futures ETFs. While Bitcoin spot ETF applications remain in limbo, the Ethereum futures ETFs are becoming increasingly popular as a viable investment option.

Disclaimer: This news article aims to provide accurate and timely information in adherence to unbiased reporting standards. Readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

Last updated 10/1/2023, 10:25:42 AM


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