In a recent announcement, asset management company VanEck declared its long-term commitment to the Bitcoin (BTC) ecosystem.
The company has pledged to donate 5% of the profits from a potential Bitcoin spot Exchange Traded Fund (ETF) to Bitcoin Core developer Brink for at least 10 years.
VanEck, which filed an updated BTC spot ETF filing with the U.S. Securities and Exchange Commission (SEC) in October last year, is taking a deep dive into the world of BTC. “At VanEck, we are not Bitcoin tourists, we are in this for the long term,” the company said in its statement.
In addition to its long-term investment commitment, VanEck has already made an initial donation of $10,000 to Brink.
The company recently started broadcasting a commercial for the Bitcoin Spot ETF, even though these products were not yet approved. The company, which has applied for Spot ETF, is still in the approval process for these products from the SEC. The SEC must respond to applications in the form of approval, rejection or postponement by January 10.
*This is not investment advice.