VanEck uses ETF profits to support Bitcoin developers
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Investment firm VanEck has pledged 5% of potential profits from its proposed Bitcoin ETF to support Brink, increasing corporate support for open source development.
Investment firm VanEck has pledged to allocate 5% of potential profits from its proposed spot Bitcoin ETF to Brink’s Bitcoin Core developers. VanEck expressed his gratitude in a statement and acknowledged the role of developers as the cornerstone of the Bitcoin ecosystem.
VanEck launched these efforts by donating $10,000 to Brink to support its ongoing work. Brink was founded in 2020 and focuses on R&D to enhance the Bitcoin protocol.
“I think this is great news. Bitcoin’s open source development efforts are so important, and it’s great that VanEck will be so generous as to give back to the core backbone of the ecosystem,” Brink board member Jonathan Bier said in a statement.
“Your relentless dedication to decentralization and innovation is a cornerstone of the Bitcoin ecosystem, and we will fully support it — more details to come,” the company said.
