Protocol Guild In For Big Pay Day From Ether ETF
VanEck has announced that it will donate 10% of all profits from its upcoming Ethereum (ETH) futures exchange-traded fund (ETF) to the Ethereum core developers for a period of ten years.
The beneficiary of this initiative will be The Protocol Guild, a group comprising more than 150 developers who are responsible for maintaining Ethereum's core technology, the asset manager said in a recent post on X (formerly Twitter).
VanEck said that it is only fair for asset managers to give back to the community that builds and supports the crypto protocol.
"Thank you, Ethereum contributors, for nearly a decade of relentless building & ongoing stewardship of this common infrastructure," the company wrote.
The company expressed its hope that other asset managers and ETF issuers would also consider adopting a similar approach.
This move by VanEck aligns with the growing trend of crypto-native communities supporting the Ethereum network.
Notable contributors include Lido Finance, Uniswap, Arbitrum, Optimism, ENS Domains, MolochDAO, and Nouns DAO.
According to a public dashboard tracking donations to the Guild's mainnet, over $12 million has been generated from 4,846 contributions.
These funds are distributed among the Guild's members based on a weighted ratio determined by their contribution periods.
VanEck unveiled its upcoming Ethereum Strategy ETF (EFUT) on September 28, which will invest in ether futures contracts.
The fund will be actively managed by Greg Krenzer, the head of active trading at VanEck, and is set to be listed on the Chicago Board Options Exchange in the near future.
In addition to VanEck, other traditional investment firms are also planning to offer exposure to Ether futures.
Valkyrie, another company in the
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