Protocol Guild In For Big Pay Day From Ether ETF. Over ten years. The Ethereum core developers will receive 10% of all earnings from VanEck’s planned Ethereum (ETH) futures exchange-traded fund (ETF).
The Protocol Guild, a group of more than 150 developers in charge of maintaining Ethereum’s core technology, will benefit from this endeavor. The asset manager stated in a recent post on X (formerly Twitter). According to VanEck, it is only fitting that asset managers give back to the group that creates and sustains the crypto protocol. “Thank you, Ethereum contributors, for nearly a decade of relentless building & ongoing stewardship of this shared infrastructure. The business stated in a letter. The company wanted additional asset managers and ETF issuers to consider using a similar strategy. VanEck’s action fits with the rising pattern of communities with a crypto-native mindset supporting the Ethereum network.
Lido Finance, Uniswap, Arbitrum, Optimism, ENS Domains, MolochDAO, In addition. And Nouns DAO are a few notable donors. A public dashboard monitoring donations to the Guild’s main net shows that 4,846 contributions have generated over $12 million. The Guild’s members get some of this money according to a weighted ratio established by their respective contribution periods. On September 28, VanEck announced the launch of their upcoming Ethereum Strategy ETF (EFUT), which would invest in ether futures contracts. Greg Krenzer. The head of active trading at VanEck will actively manage the fund, which will soon be listed on the Chicago Board Options Exchange.
Investment Firms Rush to Launch Ether Funds
In addition, Other conventional investment firms besides VanEck. Want to provide exposure to Ethereum futures? Another company in the market. Valkyrie intends to expose ether futures through its already-existing bitcoin strategy exchange-traded fund (ETF), renamed the Valkyrie bitcoin and ether strategy ETF. On September 28, Bitwise also submitted an amended prospectus for their equal-weight Bitcoin and Ether futures ETF, which will launch next week. In addition, Kelly ETFs and Hashdex have teamed up to offer futures ether ETFs soon. The Invesco Galaxy Ethereum ETF. A spot, Ether ETF. Invesco and Galaxy Digital most recently filed for it. Notably, the Securities and Exchange Commission (SEC) of the United States recently postponed deciding whether to approve a spot Ether product until December. However, some rumors are that futures-based Ether ETFs will start to trade as soon as next week. There has been a lot of interest among keen asset managers due to reports that the SEC may begin approving ether futures ETFs in early October.
“Hearing the SEC wants to accelerate the launch of Ether futures ETFs (bc they want it off their plate bf shutdown), so they’ve asked the filers to update their docs by Fri pm (no small task to jam into 48hrs, esp for indie issuers), so they can go eff Mon and trade Tue,” Eric Balchunas, an ETF analyst, wrote in a regarding X.