VanEck Commits 10% of Ethereum ETF Gains for a Decade of Core Support

The company has pledged to donate a significant portion of the profits generated from its forthcoming Ethereum ETF (EFUT) to the Protocol Guild. This initiative is designed to provide sustained support to Ethereum core contributors, ensuring the continued development and stability of the Ethereum network.

Big announcement!

We intend to donate 10% of our $EFUT ETF profits (https://t.co/gr652AkUvv) to @ProtocolGuild for at least 10 years.

Thank you, Ethereum contributors, for nearly a decade of relentless building & ongoing stewardship of this common infrastructure.

Details 👇

— VanEck (@vaneck_us) September 29, 2023

Ensuring Ethereum’s Sustained Growth

The Ethereum ETF is expected to make a significant impact on the crypto investment landscape. VanEck’s commitment involves allocating 10% of the profits generated by the Ethereum ETF to the Protocol Guild. This funding mechanism plays a crucial role in sustaining approximately 150 individuals who are essential for maintaining and enhancing the core Ethereum protocol. The donation is set to continue for a minimum of 10 years, marking a long-term dedication to the Ethereum community.

The Ethereum network is renowned for its decentralized nature and the vital role of its contributors, who work tirelessly to improve its functionality and security. Ethereum’s core contributors are responsible for implementing upgrades, addressing vulnerabilities, and advancing the network’s capabilities. Their contributions are instrumental in maintaining Ethereum’s status as one of the leading blockchain platforms globally.

VanEck’s decision to contribute a portion of its Ethereum ETF profits to the Protocol Guild demonstrates a commitment to the crypto community’s well-being. By providing financial support to these core contributors, VanEck aims to ensure the Ethereum network’s resilience and growth, benefiting the broader blockchain ecosystem.

This philanthropic move also underscores the growing recognition of cryptocurrencies and blockchain technology within the traditional financial sector. As more institutions like VanEck engage with blockchain projects and initiatives, the synergy between traditional finance and the crypto space continues to strengthen, paving the way for increased innovation and collaboration.

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