Investment giant VanEck promises to donate 5% of Bitcoin ETF profits to BTC core developers for at least 10 years
Investment giant VanEck has pledged to donate a portion of profits from its Bitcoin (BTC) exchange-traded fund if it receives the green light from the US Securities and Exchange Commission (SEC).
VanEck is one of many large financial firms applying for a spot BTC ETF.
The company says it is “not a Bitcoin tourist” and wants to support the development of BTC.
“We’re in it for the long haul. That's why we initially donated $10,000 and signed a pledge to donate 5% of our Bitcoin ETF profits (if approved) to support Bitcoin Core developers [at Brink] for at least 10 years. Their tireless commitment to decentralization and innovation is the cornerstone of the Bitcoin ecosystem and we are here to support it – more details to come.”
Brink is a project dedicated to strengthening the Bitcoin protocol and network through research and development.
The SEC has until January 10 to make its final decision on the application status of one of the exchange-traded fund applications, the ARK 21 Shares Bitcoin ETF, leading leading forecasters to predict that the regulator will give a group of applications a thumbs up or A thumbs down will be given to applications received by this date. Bloomberg ETF analysts believe there is a 90% chance that the SEC will greenlight the investment product.
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