Asset management giant VanEck has declared its intention to allocate 10% of the proceeds generated from its forthcoming Ether futures exchange-traded fund (ETF) to Ethereum’s core developers over a decade.
The announcement underlines the Protocol Guild as the recipient of these contributions.
This guild comprises more than 150 developers responsible for sustaining Ethereum’s foundational technology.
VanEck stressed the significance of asset managers contributing to the crypto protocol’s foundational community, given that traditional finance (TradFi) stands to gain from the Ethereum core developers’ contributions.
They urged other asset managers and ETF issuers to contemplate a similar strategy.
The donations directed to the Protocol Guild are meticulously monitored through a public dashboard, revealing that 4,846 contributions have amassed over $12 million.
These funds are then proportionally distributed among guild members, taking into account their contribution periods.
VanEck unveiled plans for an Ethereum Strategy ETF on September 28.
This ETF will engage in Ether futures contracts and will be actively managed by Greg Krenzer, the head of active trading at VanEck.
Its listing on the Chicago Board Options Exchange is anticipated in the near future.