As many asset managers are awaiting a decision from the SEC, VanEck said it signed a pledge to donate profits from its spot crypto ETF to Bitcoin core developers through Brink.
Asset manager VanEck, which has a pending application for a spot Bitcoin (BTC) exchange-traded fund with the United States Securities and Exchange Commission, said it planned to donate some of the profits from the investment vehicle to Bitcoin core developers following approval.
In a Jan. 5 post on X (formerly Twitter), VanEck announced a 5% pledge to BTC core developers through nonprofit organization Brink ahead of a potential approval of its spot Bitcoin exchange-traded product application. The asset management said it had already made a $10,000 donation to the developers regardless of whether the SEC gives the green light to the investment vehicle.
The SEC has not approved a spot BTC exchange-traded fund for listing on any U.S. exchange at the time of publication, but many expect the commission to decide ahead of a Jan. 10 deadline for an application from ARK Invest and 21Shares. On Jan. 4, VanEck filed a notice with the SEC to register its Bitcoin ETF shares as securities on the Cboe BZX Exchange.
