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"Asset management firm VanEck, a long-time challenger in the pursuit of a Bitcoin spot ETF, has announced (on September 30th) that its Ethereum Strategy ETF (EFUT) will allocate profits to the Ethereum community for over a decade.
The VanEck Ethereum Strategy ETF (EFUT) seeks capital appreciation by investing in Ethereum futures contracts. The fund is actively managed and offers Ethereum-related investments through easily accessible exchange-traded instruments. It does not directly invest in Ether or other digital assets.
VanEck stated that the fund became effective on September 29, 2023, but it is not yet available for trading, and there is no guarantee that the fund will commence trading.
Donating 10% of Profits to the Ethereum Protocol Guild
Asset management firm VanEck has mentioned that the fund's launch is in response to the Ethereum community's imagination, dedication, and hope for Ethereum's future mainstream adoption. VanEck hopes to donate one-tenth of this ETF's profits to the Protocol Guild over the course of more than a decade.
The Protocol Guild is a crowdsourcing mechanism that can accommodate 1 to 150 people and assists in maintaining Ethereum's major protocols. It provides mutual support among peer members and offers a way to support protocol operation for the broader ecosystem.
Many Protocol Guild members are currently focused on EIP-4844 (Proto Danksharding). This upgrade aims to reduce the costs of Layer 2 and has the potential to drive greater adoption of Ethereum." |
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Post time 2-10-2023 11:07:46
