By Angel Di Matteo @shadowargel
If approved ETF Bitcoin proposed by VanEck, These will allocate 5% of the profits for a period of 10 years to support the team of Bitcoin Brink, and in this way contribute to the development of the digital currency ecosystem.
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- VanEck want to support core developers of Bitcoin
- To do this, offer to donate 5% of the profits capitalized with your ETF Bitcoin cash
- The entity waits for a response from the SEC about your product
- The period for the verdicts of the ETF Bitcoin expires next January 10
VanEck, the asset management company and aspiring to launch its own ETF Bitcoin in cash in the US, reported that if it receives approval for the issuance of this product, it will allocate 5% of the profits from its fund to finance the developers Bitcoin.
VanEck will fund the developers Bitcoin with the profits of his ETF
The announcement came in a message published through his official account. X (Twitter), where the company stated that it will ratify its commitment to the developers of Bitcoin Brink, those who seek to promote the evolution of the ecosystem Bitcoin.
In his publication, VanEck wrote:
At VanEck we are not Bitcoin tourists. We’re in this for the long haul. That’s why we made an initial donation of $10,000 and signed a pledge to donate 5% of our Bitcoin ETF profits (if approved) to support Bitcoin Core developers. @bitcoinbrink for at least 10 years. Your tireless dedication to decentralization and innovation is the cornerstone of the Bitcoin ecosystem and we are here to support you; more details coming soon.
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
After this announcement, VanEck appears as the first candidate for a ETF Bitcoin which is committed to financing the development of Bitcoin with part of the profits they receive, especially in light of the evolution that the network of the main digital currency has seen in recent years, highlighting the arrival of the standard BRC-20 and the ordinals to said ecosystem.
Regarding this promise, it is not the first time that VanEck offers to donate part of the profits from some of its funds. When you applied for a Ethereum Futures ETF before the SEC, He promised to allocate 10% of capitalized income to support the smart contract network developer community.
As to VanEck, The company appears as one of the veterans within the crypto industry, since in the past it has tried to launch its own ETF Bitcoin repeatedly, receiving only rejections from the US Securities and Exchange Commission (SEC) considering that their product does not address possible market manipulations.
Since then, VanEck has closely followed the evolution of the sector and has sought to establish dialogues with the SEC and regulators to explore possibilities. The company is currently part of the group of more than 12 entities seeking to launch a ETF Bitcoin in cash this year, and awaits the regulator’s verdict in the coming days.
The SEC You have until next January 10 to respond to more than 10 requests for ETF Bitcoin, Therefore, analysts consider that it is only a matter of a few days before the regulator ends up approving said product.
Article by Angel Di Matteo / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
2024-01-05 21:44:44
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