Showing significant support to the altcoin Ethereum community, VanEck is on the agenda today with an important statement. Accordingly, the statement about the profit from the upcoming Ethereum exchange traded fund (ETF) attracts attention. VanEck announced its intention to donate 10% of profits to The Protocol Guild. This group consists of 152 Ethereum core protocol participants. Accordingly, the commitment will last at least 10 years.
Official announcement of VanEck focusing on Altcoin Ethereum
The announcement is made on VanEck’s official social media account. Accordingly, here is a contribution to those who contribute to the altcoin Ethereum ETH. They express their gratitude for nearly a decade of tireless work and dedication to building and maintaining this vital shared infrastructure. They also shared their expectations for mainstream adoption of Ethereum in the future.
On the other hand, it should be noted that this fund announcement is based on the situation on September 29, 2023. The ETF for the altcoin is not currently available for trading. There is also no guarantee as to when trading will begin.
The importance of VanEck’s altcoin Ethereum futures ETF (EFUT)
It is noteworthy that VanEck will soon launch the altcoin Ethereum futures ETF (EFUT). It’s also a testament to the innovation and dedication of the Ethereum community. This move reflects VanEck’s hope for widespread adoption of Ethereum in the future.
Big announcement!
We intend to donate 10% of our $EFUT ETF profits (https://t.co/gr652AkUvv) to @ProtocolGuild for at least 10 years.
Thank you, Ethereum contributors, for nearly a decade of relentless building & ongoing stewardship of this common infrastructure.
Details 👇
— VanEck (@vaneck_us) September 29, 2023
On the other hand, a call to action for the sector also attracts attention. Accordingly, VanEck’s decision to support core participants of the altcoin Ethereum is a laudable initiative. They also issue an invitation to other asset managers and ETF issuers to follow their lead. This is a call to action for the industry to recognize and appreciate the efforts of those contributing to the development of Ethereum ETH.
While waiting for the launch
VanEck’s altcoin Ethereum ETF is not currently available for trading. On the other hand, it is expected that it will become active in the near future. Given VanEck’s commitment, it would not be surprising if other asset managers make similar gestures to support the Ethereum community in the coming days.
VanEck’s announcement is a powerful testament to the collaborative spirit in the crypto industry. It also serves as an acknowledgment of the vital role played by Ethereum ETH’s core participants. We should also point out that the move was welcomed by the cryptocurrency community.
Using Ethereum ETF
Anyone who wants to buy Ethereum without opening a cryptocurrency exchange account can buy shares of an Ethereum futures ETF. Additionally, a hedge fund manager is making a similar move. One can use Ethereum futures ETFs to hedge against losses in the altcoin Ethereum portfolio.
A retirement fund can use altcoin Ethereum futures ETFs to invest in Ethereum as part of a diversified investment strategy.
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