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VanEck Ethereum Strategy ETF (EFUT) will donate 10% of profits to Ethereum for the next ten years.

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VanEck Ethereum Strategy ETF (EFUT) will donate 10% of profits to Ethereum for the next ten years.

Asset management firm VanEck, a long-time challenger in applying for a Bitcoin spot ETF, announced today that its Ethereum strategy ETF, EFUT, will allocate profits to the Ethereum community for over ten years starting on 9/30.

VanEck Ethereum Strategy ETF EFUT

VanEck Ethereum Strategy ETF EFUT seeks capital appreciation by investing in Ethereum futures contracts. The fund employs active management and provides exposure to Ethereum through easy-to-use exchange-traded instruments. The fund does not directly invest in Ether or other digital assets.

VanEck stated that the fund will be effective as of September 29, 2023, but is not yet available for trading, and there is no guarantee that the fund will commence trading.

Donating One Percent of Profits to Ethereum Protocol Guild

Asset manager VanEck mentioned that the launch of the fund is in response to the imagination and dedication of the Ethereum community and the hope for Ethereum's future mainstream adoption. VanEck aims to donate one percent of the profits from this ETF to the Protocol Guild in the future.

Protocol Guild is a crowdfunding mechanism that can accommodate ~150 individuals and helps maintain Ethereum's core protocols. It provides mutual support among peers while offering a way to support protocol operations for the broader ecosystem.

Many Protocol Guild members are currently focused on EIP-4844 ProtoDanksharding. This upgrade aims to reduce costs on Layer 2 and potentially propel Ethereum towards wider adoption.

Several well-known protocols are contributors to Protocol Guild.

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