{"id":165710,"date":"2023-09-30T14:05:13","date_gmt":"2023-09-30T08:35:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=165710"},"modified":"2023-09-30T14:05:13","modified_gmt":"2023-09-30T08:35:13","slug":"vaneck-to-support-ethereum-development-with-10-of-ether-etf-profits-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/vaneck-to-support-ethereum-development-with-10-of-ether-etf-profits-crypto-news\/","title":{"rendered":"VanEck To Support Ethereum Development With 10% of Ether ETF Profits &#8211; Crypto News"},"content":{"rendered":"<div>\n<p>VanEck, a global investment manager commanding $80B in assets, announced plans to donate a share of the profits generated from its forthcoming ETH futures exchange-traded fund to support Ethereum development.<\/p>\n<p>On Sept. 29, VanEck said it intends to donate 10% of the ETF&#8217;s profits to the Protocol Guild, a collective of 152 Ethereum core developers for at least 10 years. VanEck described the group as \u201cinstrumental\u201d in maintaining Ethereum\u2019s core protocol.<\/p>\n<p>\u201cIf TradFi stands to gain from the efforts of Ethereum&#8217;s core contributors, it makes sense that we also give back to their work, VanEck <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/vaneck_us\/status\/1707888396171977036?s=20\">tweeted<\/a>. \u201cWe urge other asset managers\/ETF issuers to consider also giving back in the same way.\u201d<\/p>\n<p>Protocol Guild has previously received support from leading teams within the Ethereum ecosystem, including Uniswap, Arbitrum, Optimism, and Lido.<\/p>\n<p>VanEck <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/vaneck-to-launch-ether-futures-etf\">announced<\/a> the VanEck Ethereum ETF (EFUT) on Sept. 28, igniting bullish momentum in the Ether markets.<\/p>\n<p>However, the ETF will exclusively invest in cash-settled Ether futures traded on the Chicago Mercantile Exchange rather than the underlying asset directly, meaning EFUT\u2019s operations will not drive up the scarcity of ETH\u2019s supply.<\/p>\n<p>Ether is up 5% in the past seven days, ranking it as the week\u2019s 17th-best-performing top 100 cryptocurrency, according to CoinGecko.<\/p>\n<p>VanEck also launched a Bitcoin futures ETF in November 2021. The fund currently manages <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.vaneck.com\/us\/en\/investments\/bitcoin-strategy-etf-xbtf\/overview\/\">$45.5M<\/a> worth of assets.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>VanEck, a global investment manager commanding $80B in assets, announced plans to donate a share of the profits generated from its forthcoming ETH futures exchange-traded fund to support Ethereum development. On Sept. 29, VanEck said it intends to donate 10% of the ETF&#8217;s profits to the Protocol Guild, a collective of 152 Ethereum core developers [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":110262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-165710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=165710"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165710\/revisions"}],"predecessor-version":[{"id":165712,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165710\/revisions\/165712"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/110262"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=165710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=165710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=165710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}