Investment management firm VanEck has announced it will commit funds to support itcoin">Bitcoin’s open-source developers. Specifically, VanEck plans to allocate 5% of potential profits from its proposed spot itcoin">Bitcoin">itcoin">Bitcoin exchange-traded fund (ETF) to the Brink organization.
Brink focuses on itcoin">Bitcoin research and development to improve the underlying protocol. To kickstart funding efforts, VanEck has donated $10,000 to Brink and expressed gratitude to itcoin">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 itcoin">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 itcoin">Bitcoin ETF gets approved, 5% of profits funneled to the spaced promises more resources for pioneers like Brink bettering itcoin">Bitcoin for all.
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