-
$76 billion asset manager to donate 5% of Bitcoin spot ETF profits to BTC development
Dozens of investment firms have filed within the Security and Exchanges Commission (SEC) to launch a Bitcoin spot ETF. If approved, this would be the first United States ETF to offer exposure to Bitcoin (BTC) in the spot market. VanEck is one of these investment firms, with $76.4 billion in assets under management (AUM) as of September 2023. Interestingly, the asset manager pledged to donate 5% of its profits with the spot ETF to Bitcoin’s open-source development. The pledge announcement came on January 5, together with an effective donation of $10,000. “We’re not Bitcoin tourists at VanEck. We’re in it for ... (full story)