As many asset managers are awaiting a decision from the SEC, VanEck said it signed a pledge to donate profits from its spot crypto ETF to Bitcoin core developers through Brink.
Asset manager VanEck, which has a pending application for a spot Bitcoin (BTC) exchange-traded fund (ETF) with the United States Securities and Exchange Commission, said it planned to donate some of the profits from the investment vehicle to Bitcoin core developers following approval.
In a Jan. 5 post on X (formerly Twitter), VanEck announced a 5% pledge to Bitcoin core developers through nonprofit organization Brink ahead of a potential approval of its spot Bitcoin exchange-traded product application. The asset management said it had already made a $10,000 donation to the developers regardless of whether the SEC gives the green light to the investment vehicle.
The SEC has not approved a spot BTC exchange-traded fund for listing on any U.S. exchange at the time of publication, but many expect the commission to decide ahead of a Jan. 10 deadline for an application from ARK Invest and 21Shares. On Jan. 4, VanEck filed a notice with the SEC to register its Bitcoin ETF shares as securities on the Cboe BZX Exchange.
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Source: https://cointelegraph.com/news/vaneck-pledges-profits-core-devs-spot-bitcoin-etf