Ethereum Future ETFs: VanEck to Donate 10% Profit to Protocol Guild for 10 Years

2023-9-30 16:45

Asset management VanEck will donate 10% of the profit from its Ethereum Futures ETF to the network’s Protocol Guild for at least 10 years. The revelation is coming on the heels of the expectation that the market will be inundated with several futures ETFs by next week.

In a September 29 statement, VanEck said it would donate 10% of its profit to Ethereum’s protocol guild for at least 10 years.

VanEck’s 10% Donation

The protocol guild is a 152-member group of Ethereum’s core protocol contributors enabling distributed funding for distributed systems. 

According to VanEck, the donation is to appreciate the group’s stewardship towards building and maintaining the infrastructure for nearly a decade.

Need Help? Crypto Portfolio Management: A Beginner’s Guide

The asset management firm described the developers as major contributors to Ethereum’s recent Merge and Shanghai upgrades. 

VanEck’s donation comes amid its plan to launch an Ethereum Futures ETF product next week. While the fund is already effective, the investment company said it is not yet available for trading.

Though the company noted that it wasn’t sure the fund would commence trading, it promised to provide more details soon. 

Ethereum’s Protocol Guild Donations. Source: Dune Analytics

Through the donation, VanEck will join platforms like Arbitrum, Lido, and Uniswap, which are top donors to the group. 

Marketing Gimmick?

Bloomberg analyst James Seyfarrt said VanEck’s donation offer will begin a marketing war between the Ethereum Future ETFs expected to begin operations soon.

Earlier in the week, VanEck had released a TV commercial centered around its Ethereum Strategy ETF. The advert urged viewers to “Enter the Ether” and that its ETF was “coming soon.”

Meanwhile, market observers noted that the adverts signify that the U.S. Securities and Exchanges Commission (SEC) was set to approve an Ether futures ETF before the government shutdown. Bloomberg senior ETF Analyst Eric Balchunas corroborated this view, positing that:

“The SEC wants to accelerate the launch of Ether futures ETFs (because they want it off their plate before [the government] shutdown).”

While Bitcoin spot ETF applications remain in limbo, Ethereum futures ETFs are gaining traction and recognition from investors.

Also Read: 9 Best AI Crypto Trading Bots to Maximize Your Profit

The post Ethereum Future ETFs: VanEck to Donate 10% Profit to Protocol Guild for 10 Years appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

BlockMason Credit Protocol (BCPT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.04 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0195725 (-100%)

protocol years ethereum guild vaneck donate etfs

protocol years → Результатов: 126


Shards and Layer-2s: Unpacking NEAR and Ethereum’s contrasting approaches to blockchain scalability

The landscape of blockchain scalability has evolved significantly in recent years, with Layer-2s (L2s) and sharding emerging as the two dominant approaches. Ethereum, a key player in the crypto industry, has adopted rollup-centric L2s to scale its network, while NEAR protocol has taken a different path, choosing to scale via sharding.

2023-7-5 20:30


Фото:

DeFi Protocol Exploits Presenting Opportunities for DeFi Insurance

The interest in Decentralized Finance (DeFi) over the past two to three years has made it one of the fastest-growing areas in the decentralized web ecosystem. DeFi generally refers to the provision of peer-to-peer financial services over mostly public blockchains, through the use of smart contracts thereby eliminating the need for financial third parties or […]

2022-7-5 17:46


Разработчики Zcash представили дорожную карту проекта до 2025 года

Коммерческая организация Electric Coin Company (ECC) опубликовала дорожную карту пиринговой платежной системы Zcash (ZEC) до 2025 года. It has become clear that the best way for ECC to contribute to the #Zcash $ZEC community over the next three years is to release an official ECC wallet on top of a highly interoperable Zcash protocol that leverages proof-of-stake consensus.

2021-11-21 13:34


Ankr launches $10 million fund to support DeFi and Web3 growth

Blockchain protocol Ankr today introduced Ankr V2, a decentralized web service (DWS) portal for Web3 development that empowers builders to create multi-chain systems, products, and services.  Ankr also announced that it will distribute more than $10 million in grants over a period of two years to bolster the growth of a distributed supercomputer and reward […] The post Ankr launches $10 million fund to support DeFi and Web3 growth appeared first on CryptoSlate.

2021-10-28 14:00


Фото:

Ripple’s Lead Lawyer Tells How Big The SEC Battle Is And Why Coinbase Shouldn’t Be Comfortable Listing Dogecoin Over XRP

After spending a significant part of his professional legal career crawling up the legal ranks and later offering legal services for traditional financial institutions, Ripple’s lead lawyer, Stuart Alderoty tells it all to Protocol, his exciting two years as a front line lawyer in the biggest legal battle rocking the crypto space. How Big Is […]

2021-6-30 18:41