Investment Giant VanEck Pledges To Donate 5% of Bitcoin ETF Profits to BTC Core Developers for at Least 10 Years

Investment giant VanEck has pledged to donate some of the profits from its Bitcoin (BTC) exchange-traded fund if it’s greenlit by the U.S. Securities and Exchange Commission (SEC).

VanEck is one of a slew of major financial firms to apply for a spot BTC ETF.

The company says they’re “not Bitcoin tourists” and want to support BTC development.

“Were in it for the long haul. Thats 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 [at Brink] for at least 10 years. Your tireless dedication to decentralization and innovation is the cornerstone of the Bitcoin ecosystem, and we’re here to support it more details to come.”

Brink is a project devoted to strengthening the Bitcoin protocol and network through research and development.

The SEC has to make its final decision regarding the application status of one of the exchange-traded fund applications, ARK 21 Shares Bitcoin ETF, by January 10th, leading prognosticators to predict the regulator will give a thumbs up or thumbs down to a group of applications on or by that date. Bloomberg ETF analysts think there is a 90% chance the SEC will greenlight the investment product.

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This article was originally reported on The Daily Hodl.