VanEck To Support Protocol Guild With 10% Ethereum ETF Profits

VanEck announces to give away 10% of Ethereum Strategy ETF profit to support Protocol Guild for a decade, benefiting Ethereum’s core development.

The Protocol Guild will get 10% of the profit generated by VanEck, a corporation that administers investments, from the Ethereum Strategy ETF (EFUT).

There are 152 members of the Protocol Guild who contribute to Ethereum’s fundamental operations. Notable is that VanEck has committed to offering this help for a period of ten years.

The VanEck Ethereum Strategy ETF (EFUT), which will invest in regular, cash-settled ETH futures contracts traded on commodity exchanges regulated with the CFTC, is preparing to go public, according to VanEck.

There is no assurance that the Fund will begin trading as of September 29, 2023, and the fund is not currently available for consumers to buy and sell.

A community-driven funding scheme called Protocol Guild provides assistance to those who are essential to maintaining the functionality of Ethereum’s core technology. It gives them a chance to support one another while also allowing the greater Ethereum community to take part in their crucial work on the protocol.

The Protocol Guild is currently engaged in a project known as EIP-4844, also known as “Proto-Danksharding.” This improvement aims to lower costs for Layer 2 solutions and, ideally, increase Ethereum’s accessibility to a larger audience.

To date, Protocol Guild has received contributions from a number of cryptocurrency communities, including Lido Finance, Uniswap, Arbitrum, Optimism Foundation, ENS Domains, MolochDAO, NounsDAO, and others.

VanEck announced on Twitter that they will speak with the Protocol Guild in greater depth at a live chat on Wednesday, October 4, at 1 PM Eastern time.

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