Education
VanEck Pledge 5% of Bitcoin ETF Profits to Developers
VanEck has announced that if the US Securities and Exchange Commission (SEC) approves its application for a spot Bitcoin ETF, the asset management firm will allocate 5% of the fund’s profits to support Bitcoin developers.
VanEck is among several other companies awaiting validation of their application to list spot Bitcoin ETF in the US. The imminent approval for listing such a fund is
poised to attract unprecedented investment from traditional finance into the cryptocurrency space.
Acknowledging the potential surge in investment,
VanEck’s pledge to donate a percentage of its profits from the ETF mirrors its prior
commitment to Ethereum developers, Coindesk reported. Its dedication to contributing 10% of profits from
an ether futures ETF to the Ethereum
Ethereum
Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language,
Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language,
Read this Term ecosystem last year highlighted the firm’s
involvement in supporting the blockchains of major cryptocurrencies.
We’re not Bitcoin tourists at VanEck. We’re in it for the long haul. That’s why we made an initial $10k donation and signed a pledge to donate 5% of our Bitcoin ETF profits (if approved) to support Bitcoin Core devs @bitcoinbrink for at least 10 years. Your tireless dedication to…
— VanEck (@vaneck_us) January 5, 2024
Amidst the anticipation of spot Bitcoin ETF
approval, 2023 saw a resurgence in crypto investments. There was $2.25 billion
worth of inflows into the sector, the third-largest since 2017, Finance Magnates reported.
This surge contrasted with that of 2022, when inflows were $831 million. The industry witnessed a visible
acceleration in investments during the latter half of 2023, mirroring the
widespread eagerness to launch the inaugural Wall Street spot Bitcoin ETF.
Notably, Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term emerged as the primary beneficiary,
capturing $1.9 billion in inflows, representing 87% of the total, the most significant
share ever recorded.
Corporate Giants Enter Bitcoin ETF Arena
Recently, reports surfaced that Goldman Sachs was
exploring possible collaboration for spot Bitcoin ETFs. These
reports indicate that Goldman Sachs is contemplating acting as an authorized
participant for the proposed spot Bitcoin ETFs by BlackRock and Grayscale.
Goldman Sachs’ consideration mirrors a broader trend
among major US banks like JPMorgan Chase, Jane Street, and Cantor Fitzgerald,
who are eyeing participation in forthcoming spot Bitcoin ETFs.
Last year, BlackRock enlisted JP Morgan Securities and Jane
Street as authorized participants. This move underscored the important roles of these entities in streamlining ETF processes for efficient investor
engagement.
VanEck has announced that if the US Securities and Exchange Commission (SEC) approves its application for a spot Bitcoin ETF, the asset management firm will allocate 5% of the
fund’s profits to support Bitcoin developers.
VanEck is among several other companies awaiting validation of their application to list spot Bitcoin ETF in the US. The imminent approval for listing such a fund is
poised to attract unprecedented investment from traditional finance into the cryptocurrency space.
Acknowledging the potential surge in investment,
VanEck’s pledge to donate a percentage of its profits from the ETF mirrors its prior
commitment to Ethereum developers, Coindesk reported. Its dedication to contributing 10% of profits from
an ether futures ETF to the Ethereum
Ethereum
Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language,
Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language,
Read this Term ecosystem last year highlighted the firm’s
involvement in supporting the blockchains of major cryptocurrencies.
We’re not Bitcoin tourists at VanEck. We’re in it for the long haul. That’s why we made an initial $10k donation and signed a pledge to donate 5% of our Bitcoin ETF profits (if approved) to support Bitcoin Core devs @bitcoinbrink for at least 10 years. Your tireless dedication to…
— VanEck (@vaneck_us) January 5, 2024
Amidst the anticipation of spot Bitcoin ETF
approval, 2023 saw a resurgence in crypto investments. There was $2.25 billion
worth of inflows into the sector, the third-largest since 2017, Finance Magnates reported.
This surge contrasted with that of 2022, when inflows were $831 million. The industry witnessed a visible
acceleration in investments during the latter half of 2023, mirroring the
widespread eagerness to launch the inaugural Wall Street spot Bitcoin ETF.
Notably, Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term emerged as the primary beneficiary,
capturing $1.9 billion in inflows, representing 87% of the total, the most significant
share ever recorded.
Corporate Giants Enter Bitcoin ETF Arena
Recently, reports surfaced that Goldman Sachs was
exploring possible collaboration for spot Bitcoin ETFs. These
reports indicate that Goldman Sachs is contemplating acting as an authorized
participant for the proposed spot Bitcoin ETFs by BlackRock and Grayscale.
Goldman Sachs’ consideration mirrors a broader trend
among major US banks like JPMorgan Chase, Jane Street, and Cantor Fitzgerald,
who are eyeing participation in forthcoming spot Bitcoin ETFs.
Last year, BlackRock enlisted JP Morgan Securities and Jane
Street as authorized participants. This move underscored the important roles of these entities in streamlining ETF processes for efficient investor
engagement.
#VanEck #Pledge #Bitcoin #ETF #Profits #Developers
