Link copied 
Global financial manager, VanEck, has announced a commitment to support the technological heartbeat of Ethereum. Come the launch of its forthcoming Ether futures exchange-traded fund (ETF), VanEck will channel 10% of all its profits to the Protocol Guild for a decade. The Guild, a collective of over 150 developers, oversees the constant upgrades and maintenance of Ethereum's underlying technology.
VanEck's rationale behind this pledge is rooted in their belief that financial institutions profiting from the fruits of Ethereum’s labor should rightfully give back to its architects. VanEck’s statement conveyed the sentiment that it's equitable for such institutions to contribute a part of their profits to the developers who keep the Ethereum ecosystem vibrant and operational. The company further nudged its industry peers to consider similar contributions, emphasizing a collaborative approach to the digital asset space.
This decision aligns VanEck with several crypto-centric bodies, all of whom back the Ethereum network in various capacities. Monitoring platforms that track donations to the Protocol Guild indicate a robust culture of giving, with 4,846 gifts amounting to a cumulative $12 million. These funds are judiciously divided among Guild members based on the tenure and magnitude of their contributions.
Meanwhile, Ethereum's core developers are in the throes of refining Ethereum Improvement Proposal EIP-4844. Termed 'Proto-Danksharding', this upgrade aims to unveil a novel transaction type on Ethereum. This move is expected to significantly slash transaction costs for layer-2 protocols.
A day prior to this announcement, VanEck unveiled details of its Ethereum Strategy ETF. This fund, poised to dabble in Ether futures contracts, will fall under the watchful eyes of Greg Krenzer, who spearheads active trading at VanEck. It’s anticipated to make its debut on the Chicago Board Options Exchange soon.
In related developments, Valkyrie and Bitwise are prepping to dip their toes into Ether futures. Moreover, with firms like Invesco Galaxy and ARK 21Shares queueing up, the clamor for a spot Ether ETF is palpable.
