One of the largest asset managers, Vaneck, is pledging to allocate 5% of the profits of its Spot Bitcoin ETF to support Bitcoin Core developers for 10 years.
The company is currently awaiting SEC approval to launch its spot bitcoin ETF. The regulator is expected to approve several applications early next week. Vaneck is one of 11 companies bidding to launch the first spot bitcoin ETF in the U.S.
"We at Vaneck aren't just exploring bitcoin - we're here to stay," a company spokesperson said Friday on social media platform X.
Vaneck predicts that more than $2.4 billion will flow into the recently approved spot bitcoin-ETFs in the U.S. in the first quarter of 2024, which they believe will help keep the bitcoin price high.
In March, mining company Marathon Digital Holdings and nonprofit organization Brink teamed up to raise $1 million to support Bitcoin Core developers.
Tim Draper, a venture capitalist with the Draper Foundation, also supported Bitcoin Core developers through donations to Brink. They donated $100,000 in March and another $150,000 in December, bringing the total contribution for the year to $250,000. Draper also increased his BTC price forecast to $250,000 this year.
What is most worrisome is the funding of bitcoin core development by international banks. Van Eck Global (from 1955 to 2016) or Vaneck after 2016, has a history tied to U.S. money, starting with its founding in 1955 by John Van Eck. He founded the company on the wave of international stock market growth after the opening of Western Europe to American investors thanks to the Marshall Plan.
John van Eck's father had to move to the US from the Netherlands in the early 20th century due to his work at Shell plc to expand international business. Interestingly, Shell's parent company, Royal Dutch Shell plc, is incorporated in England and Wales and is part of the Rothschild business empire.
Simply put, Rothschild funds that have shown interest in the cryptocurrency market, including Digital Currency Group, GreyScale Capital, Circle, USDT and other large projects, have decided to directly fund the developers of the bitcoin core.
In the world, nothing happens for nothing. Someone pays, someone orders the music.
It's important to note that the large corporate owners of bitcoin already have indirect ties to the Rothschilds. GreyScale and even Microstrategy, which Blacrock, State Street, and Fidelity happen to own the majority of shares in, are closely tied to the Rothschilds.
If the trend continues, holders of most of bitcoin could soon find themselves in a similar position.
However, these respected individuals are unlikely to invest in an asset that could depreciate to zero in the coming years.