VanEck, an asset management firm and future BTC exchange-traded fund (ETF) provider, will donate 5% of profits from its fund (if approved) to Bitcoin developer Brink.
VanEck's application to list a spot Bitcoin ETF in the US is one of more than a dozen currently awaiting a decision from the US Securities and Exchange Commission (SEC). The Securities and Exchange Commission is expected to give final approval to the listing of such a fund in the coming days.
The launch of spot Bitcoin ETFs is expected to increase cryptocurrency investment from the TradFi world to unprecedented levels.
While this will be largely welcomed by the established crypto community, there will also be tensions in some areas. Therefore, providers like VanEck will be keen to demonstrate some commitment to the core Bitcoin industry by giving back to developers and others.
“We at VanEck are not Bitcoin tourists. We’re in it for the long haul,” VanEck posted on X on Friday. “Brink’s tireless commitment to decentralization and innovation is the cornerstone of the Bitcoin ecosystem and we are here to support it.”
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