VanEck commits to donating 5% of Bitcoin ETF profits to Brink

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VanEck commits to donating 5% of Bitcoin ETF profits to Brink © Reuters

NEW YORK – In a noteworthy move within the cryptocurrency investment space, VanEck, a global investment manager, has announced a long-term commitment to support core development.

The firm has pledged to donate 5% of its profits from the proposed Bitcoin spot ETF to Brink, a non-profit organization focused on Bitcoin’s technological framework.

This philanthropic gesture kicked off with an initial contribution of approximately $10,000. The commitment spans over a decade, signaling VanEck’s confidence in the cryptocurrency’s future and its dedication to fostering a robust and secure Bitcoin network through sustained financial support.

VanEck’s proposed Bitcoin spot ETF is part of a broader industry trend, with several investment firms, including BlackRock (NYSE:), Ark, and Grayscale, awaiting the SEC’s decision on similar proposals. The anticipation within the financial community is high, as decisions on these proposals are expected soon, with one such decision on Ark’s proposal slated by January 10th.

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