VanEck Commits to Supporting Bitcoin Core Developers
VanEck, a contender for SEC approval for a Bitcoin ETF, has made a significant commitment to supporting Bitcoin core developers and contributing to the growth of the ecosystem. The investment firm has pledged to donate 5% of the potential profits from a spot Bitcoin ETF to Brink, an organization that supports Bitcoin Core developers. By pledging this percentage, VanEck aims to provide sustainable financial support to the developers associated with Brink, ensuring their continued efforts to drive decentralization and foster innovation within the Bitcoin ecosystem.
Donation and Long-Term Support
In addition to the pledge, VanEck has already made a $10,000 donation to Brink. The firm expressed its dedication to the long-term success of Bitcoin by stating that it is “not Bitcoin tourists” and plans to donate 5% of its Bitcoin ETF profits (if approved) to support Bitcoin Core developers for at least 10 years. VanEck’s CEO, Jan van Eck, has previously expressed optimism about Bitcoin, anticipating an all-time high within the next 12 months.
Predictions on SEC Approval
Industry experts have been sharing their predictions on the upcoming decision by the US SEC regarding Bitcoin ETF applications. Eleanor Terret, a FOX reporter, highlights the intriguing possibility of the SEC approving all eleven BTC spot ETF applications at once, allowing them to commence trading on the same day. However, questions arise about each applicant’s operational infrastructure and whether it may impact the launch date of each ETF.
James Seyffart, a Bloomberg ETF expert, responds by stating that his base case scenario is the approval of all eleven BTC spot ETF applications simultaneously. While operational readiness could be a factor for some applicants causing delays in their launch, Seyffart believes that the majority will be prepared to commence trading if approved by the SEC.
Potential Approval of Multiple ETFs
As speculation grows regarding the potential approval of all eleven ETFs simultaneously, a positive decision by the SEC would provide investors with more options for gaining exposure to Bitcoin. This could potentially drive increased market participation and liquidity. Currently, Bitcoin is trading at $43,600, down over 1% in the past 24 hours as the market awaits further updates regarding the Bitcoin ETF that could impact its price.
Hot Take: VanEck’s Commitment to Bitcoin Core Developers Highlights Long-Term Perspective
VanEck’s pledge to donate a percentage of potential profits from a Bitcoin ETF to support Bitcoin Core developers demonstrates the company’s commitment to the long-term growth and development of the ecosystem. By providing sustainable financial support, VanEck aims to ensure that decentralization and innovation continue within the Bitcoin community. This commitment aligns with CEO Jan van Eck’s optimism about Bitcoin’s future and his anticipation of an all-time high in the next year. With anticipation building around SEC approval for multiple ETFs, industry experts predict the possibility of all eleven applications being approved simultaneously, which could provide investors with more opportunities to participate in the Bitcoin market.
By
By
By
By
