VanEck to Donate 10% of Ethereum ETF to Protocol Guild
VanEck, a New York City-based asset manager, has announced plans to donate 10% of its Ethereum Strategy exchange-traded fund (ETF) to The Protocol Guild. The guild is a collective of 152 Ethereum core protocol contributors, and the donation will last for a minimum of 10 years. VanEck stated that it believes in giving back to the work of Ethereum’s core contributors, as traditional finance (TradFi) stands to benefit from their efforts. The move has been well-received by the broader Ethereum community, with many expressing their appreciation for the support.
Positive Reception from the Ethereum Community
The Ethereum community has welcomed VanEck’s decision to donate a portion of its ETF to The Protocol Guild. Members of the community have described it as “insane” and “value-accretive.” They hope that other businesses in the space will follow VanEck’s example and support core development in a similar manner. VanEck is currently preparing to launch its Ethereum Strategy ETF, which will focus on ether futures contracts. It will be listed on CBOE and actively managed by Greg Krenzer, VanEck’s head of active trading.
Hot Take: VanEck Sets an Example for Crypto Businesses
VanEck’s decision to donate a portion of its Ethereum ETF profits to The Protocol Guild demonstrates a positive step towards supporting core development in the crypto industry. By giving back to the contributors who have built and maintained the Ethereum infrastructure, VanEck sets an example for other businesses in the space. This move not only benefits the Ethereum community but also strengthens the alignment between traditional finance and cryptocurrencies. It highlights the importance of recognizing and appreciating the efforts of those who contribute to the development and maintenance of open protocols.
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