Asset manager VanEck will donate 10% of all profits generated by its upcoming Ethereum Strategy ETF to Ethereum core developers.
Global asset manager VanEck will donate 10% of all profits from its upcoming Ether futures exchange-traded fund to Ethereum core developers for ten years, the company announced on X on Sept. 29.maintaining Ethereum’s core technology. According to VanEck, it’s only fair for asset managers to return part of their proceeds to the community building the crypto protocol. It stated:
“If TradFi stands to gain from the efforts of Ethereum’s core contributors, it makes sense that we also give back to their work. We urge other asset managers/ETF issuers to consider also giving back in the same way." With this move, VanEck joins other crypto-native communities supporting the Ethereum network, including Lido Finance, Uniswap, Arbitrum, Optimism, ENS Domains, MolochDAO, and Nouns DAO.
According to a public dashboard tracking donations sent to the Guild’s mainnet, 4,846 contributions have over $12 million in donations. Funds are then distributed among its members according to a weighted ratio based on their contribution periods.
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