VanEck to Donate 10% of ETH Strategy ETF Profits to Protocol Guild

VanEck, a global investment management firm, has recently announced its intentions to donate 10% of its forthcoming Ethereum Strategy ETF (EFUT) profits to Protocol Guild for a minimum of ten years.

VanEck Recognizes the Contributions of ETH Contributors

While the ETF is not yet available for trading, this commitment underscores VanEck’s confidence in Ethereum’s continued success and its long-term vision for the cryptocurrency. Meanwhile, Valkyrie is also another investment firm that is waiting for the SEC to approve its ETH futures ETF.

The Protocol Guild is a grassroots collective comprising approximately 150 dedicated individuals who serve as a crucial funding mechanism for Ethereum’s core contributors. It facilitates mutual support among its members and provides the broader ecosystem with an opportunity to support protocol development efforts. 

Many members of the guild have been actively involved in critical Ethereum upgrades, such as the recent Merge and Shanghai upgrades, contributing to research, implementation, testing, coordination, and more.

Ultimately, VanEck’s donation demonstrates its great gratitude for the Ethereum community’s tireless construction and continued maintenance of the blockchain’s common infrastructure. The devotion and hard work of these unsung heroes who have been secretly molding the future of blockchain technology have been critical to Ethereum’s evolution and success.

Ethereum’s Path Forward

At present, many Protocol Guild members are focused on Ethereum Improvement Proposal 4844 (EIP-4844), also known as “Proto-Danksharding.” This upgrade aims to reduce costs for Layer 2 solutions and potentially make Ethereum more accessible to a wider audience.

Notably, various crypto-native communities, including Lido Finance, Uniswap, Arbitrum, Optimism, ENS Domains, MolochDAO, NounsDAO, and others, have already shown their support for the guild’s efforts. VanEck’s generous donation now reinforces the principle of giving back to the individuals who are making Ethereum’s success possible.

A Call for Wider Engagement

VanEck’s commitment to giving back to Ethereum’s core contributors serves as an invitation to the broader financial and investment sector to consider similar initiatives.

As traditional finance increasingly recognizes the significance of blockchain technology and cryptocurrencies, it is imperative for asset managers and ETF issuers to acknowledge the critical role played by blockchain developers and contribute to the sustainability and growth of these networks.