Investment management firm VanEck has announced it will commit funds to support Bitcoin’s open-source developers. Specifically, VanEck plans to allocate 5% of potential profits from its proposed spot Bitcoin">Bitcoin exchange-traded fund (ETF) to the Brink organization.
Brink focuses on Bitcoin research and development to improve the underlying protocol. To kickstart funding efforts, VanEck has donated $10,000 to Brink and expressed gratitude to Bitcoin developers for their foundational work.
VanEck’s contribution highlights increasing corporate support for open-source blockchain projects that often depend on volunteers and donations. With firms like VanEck assisting sustainably fund developers, innovation on public blockchains like Bitcoin can continue flourishing.
Securing adequate development funding remains an ongoing challenge in crypto, but commitments like VanEck’s set a precedent. If the firm’s Bitcoin ETF gets approved, 5% of profits funneled to the spaced promises more resources for pioneers like Brink bettering Bitcoin for all.
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