VanEck Supports Protocol Guild With 10% Ethereum ETF Profits

VanEck is planning to create something called the VanEck Ethereum Strategy ETF (EFUT) is like a special investment fund for Ethereum.
VanEck Supports Protocol Guild with 10% Ethereum ETF Profits

VanEck, a company that manages investments, recently said that they will give away 10% of the profit they make from the Ethereum Strategy ETF (EFUT) to the Protocol Guild. 

This Protocol Guild group consists of 152 individuals who contribute to the core workings of Ethereum. What’s noteworthy is that VanEck has promised to provide this support for a duration of 10 years.

VanEck is planning to launch the VanEck Ethereum Strategy ETF (EFUT), which will invest in standardized, cash-settled ETH futures contracts traded on commodity exchanges registered with the CFTC.

As of September 29, 2023, the fund is not yet available for people to buy and sell, and there is no guarantee that the Fund will start trading.

Protocol Guild is a community-driven funding system that helps people who play a crucial role in keeping Ethereum’s core technology running smoothly. It’s a way for these members to help each other out and for the larger Ethereum community to contribute to their important work on the protocol.

A lot of people in the Protocol Guild are currently working on EIP-4844, which they’ve nicknamed “Proto-Danksharding.” This upgrade is aimed at reducing expenses for Layer 2 solutions and, hopefully, making Ethereum more accessible to a wider audience.

Up to this point, various cryptocurrency communities such as Lido Finance, Uniswap, Arbitrum, Optimism Foundation, ENS Domains, MolochDAO, NounsDAO, and others have contributed to Protocol Guild. 

VanEck shared on Twitter that they will have a live chat on Wednesday, October 4 at 1 PM Eastern time where they will discuss more in detail with the Protocol Guild.

Also Read : VanEck Refiles for Spot Bitcoin ETF with SEC

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