US asset management giant VanEck is one of the 13 financial institutions that have submitted applications for a Bitcoin spot ETF. Yesterday, VanEck announced on its official X platform that if their Bitcoin spot ETF is approved, they will donate 5% of the profits from the product to Bitcoin’s core developers after it is listed.
(Background: If I were a spot ETF issuer, I would donate 1% of income to BTC developers! Morgan Creek founder: Market share guarantees the first position)
(Background: Wall Street giant VanEck predicts “Bitcoin to reach a new high within a year”! All BTC spot ETF applications will be approved together)
Headquartered in New York, VanEck is a US asset management giant with assets under management exceeding $76.4 billion. It is also one of the 11 financial institutions that have submitted applications for a Bitcoin spot ETF to the SEC.
Current multiple sources indicate that the SEC is highly likely to approve the first spot ETF before January 10th, and the battle for Bitcoin spot ETFs among Wall Street giants has already begun.
(Extended reading: Bloomberg analyst: “Review of Bitcoin spot ETF has been completed”, SEC aims to open for trading on 1/11)
VanEck: “5% of Bitcoin spot ETF revenue” will be donated to core developers
On Friday (1/5), VanEck announced on its official X platform that if their Bitcoin spot ETF is successfully approved, they will donate 5% of the profits from the product to Brink’s Bitcoin core developers after it is listed.
Brink is a non-profit organization established in 2020 that focuses on advancing Bitcoin protocol development. It aims to support the Bitcoin developer community through funding, education, and guidance. In June 2023, the organization received $5 million in funding from Twitter founder Jack Dorsey to support Bitcoin development work.
Coindesk pointed out that in October last year, VanEck also pledged to donate 10% of the profits from its Ethereum futures ETF to Ethereum developers.
VanEck CEO: Bitcoin will reach a new high in 2024
According to previous reports by CoinDesk, Jan Van Eck, CEO of VanEck, predicted in an interview with CNBC last month that Bitcoin will reach a new all-time high in the next 12 months. He also expressed optimism that the SEC will follow the approach of approving all Bitcoin spot ETF applications one day, similar to the Ethereum futures ETF.
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