VanEck Commits to Donating 5% of BTC ETF Profits to Bitcoin Developers at Brink

VanEck, a leading asset manager, has announced that it will donate 5% of profits received from its proposed Bitcoin exchange-traded fund (ETF) to support Bitcoin development. The donation will fund Brink, a non-profit dedicated to accelerating the development of Bitcoin.

VanEck’s stated goal is to better enable the cryptocurrency’s development as a financial technology platform. The company believes that a regulated, well-engineered, and robust ETF is crucial to accessing the next wave of broader institutional investment into Bitcoin.

Chris Eves, Global Head of Digital Assets at VanEck, said in a statement: “VanEck is dedicated to supporting the robust development of cryptocurrency infrastructure and advocating for regulations that foster innovation and promote investor safety. We’re excited to be partnering with Brink to ensure our ETF’s success accelerates Bitcoin development.”

Brink has already received funding from some of the largest players in the crypto space, including Digital Currency Group and Coinbase Ventures. The organization, which launched earlier this month, is focused on driving Bitcoin’s growth as a financial technology platform by unifying the development, engineering, research, security, and protocol design around Bitcoin.

With VanEck’s commitment, funding from these two sources positions Brink to play a major role in the future of Bitcoin. The donations will also further imbue Bitcoin with more stability, adding an extra layer of support from a trusted financial institution as the crypto industry matures and continues to grow.