Bitcoin Spot ETF will fund Bitcoin Core Devs

[MrSpasybo]

We have heard about the positive impacts of Bitcoin Spot ETF on crypto market such as:
+ Confirming the value and role of BTC in the economy.
+ Allows investors to access BTC to diversify their portfolio.
+ Attract large capital from traditional financial markets.

Today, there is another positive impact:
Asset management firm and prospective BTC exchange-traded fund (ETF) provider VanEck will donate 5% of the profits from its fund (if approved) to Bitcoin developers Brink.
>> VanEck to Donate 5% of BTC ETF Profits to Bitcoin Core Developers

As we know, Bitcoin Core developers are responsible for maintaining the Bitcoin codebase. This includes fixing bugs, improving performance, and adding new features. VanEck's donation will help to ensure that the Bitcoin Core developers have the resources they need to continue their important work. This donation is a vote of confidence in the future of Bitcoin. It shows that VanEck believes that Bitcoin is a viable and valuable asset.
So VanEck's donation to Bitcoin Core developers is a positive development for the Bitcoin ecosystem. It is a sign of growing institutional interest in Bitcoin and a commitment to the long-term health of the network.

I would not be surprised if other Bitcoin Spot ETF providers soon announce to use a portion of profits from this product to fund the development of crypto market. In the context that the Inscription trend is having a negative impact on Bitcoin blockchain, I think they should sponsor Layer-2 solutions on Bitcoin for Dev to develop and perfect L2 product. I don't expect them to sponsor a new Hardfork because of the disagreement about BRC-20/Inscription trend 

What direction do you think these Bitcoin Spot ETF providers could use a portion of their profits to fund for Bitcoin and the entire crypto market?

[SamReomo]

That is in fact a very good news for the Bitcoin core developers and if VanEck can show such dedication towards developers of Bitcoin then other companies who are going to have their ETFs should also support the Bitcoin core developers.

It would be great if we can hear something similar from BlackRock, and it would be great to see if a huge hedge fund like BlackRock says something like that to support the Bitcoin core developers.

[tranthidung]

As we know, Bitcoin Core developers are responsible for maintaining the Bitcoin codebase. This includes fixing bugs, improving performance, and adding new features.

Bitcoin is a decentralized project and nothing is like an official website, an official wallet and the likes.

For example, to download Bitcoin Core, they can do it on some websites.

• https://bitcoin.org/en/bitcoin-core/
• https://bitcoincore.org/en/download/

The reminder is : Verify it, don't trust what you download.

People can use Bitcoin Core to store their bitcoins or to run a Bitcoin node but they definitely can choose other wallets to store bitcoin as well as run Bitcoin node.

Bitcoin Core software is only one of available wallets.

• https://bitcoin.org/en/choose-your-wallet

Generally it is a clever marketing strategy of VanEck.

[MrSpasybo]

That is in fact a very good news for the Bitcoin core developers and if VanEck can show such dedication towards developers of Bitcoin then other companies who are going to have their ETFs should also support the Bitcoin core developers.

It would be great if we can hear something similar from BlackRock, and it would be great to see if a huge hedge fund like BlackRock says something like that to support the Bitcoin core developers.

Yeah, BTC Spot ETF from providers will be similar in terms of legality and safety so these providers are in a battle for customers. We see the advertising war, the asset management fee war, and now the media war regarding BTC Spot ETF returns.

In addition to sponsoring Bitcoin Core Dev, other purposes can be considered such as: crypto education, organizing hackathons, developing green energy for mining, charity...

Hope Bitcoin and crypto community will benefit from launch of BTC Spot ETF this month ❤️

[tranthidung]

Yeah, BTC Spot ETF from providers will be similar in terms of legality and safety so these providers are in a battle for customers. We see the advertising war, the asset management fee war, and now the media war regarding BTC Spot ETF returns.

This new volatile market is full of wars, so true.

In addition to sponsoring Bitcoin Core Dev, other purposes can be considered such as: crypto education, organizing hackathons, developing green energy for mining, charity...

Over years, Bitcoin users always can make donations to Bitcoin developers if they know developers's Bitcoin addresses to receive donation from community.

Here you go

• https://bitcoindevlist.com/
• It includes Bitcoin developers in general, not only Bitcoin Core developers.

[Jamal Aezaz]

Yeah, BTC Spot ETF from providers will be similar in terms of legality and safety so these providers are in a battle for customers. We see the advertising war, the asset management fee war, and now the media war regarding BTC Spot ETF returns.

This new volatile market is full of wars, so true.

In addition to sponsoring Bitcoin Core Dev, other purposes can be considered such as: crypto education, organizing hackathons, developing green energy for mining, charity...

Over years, Bitcoin users always can make donations to Bitcoin developers if they know developers's Bitcoin addresses to receive donation from community.

Here you go

• https://bitcoindevlist.com/
• It includes Bitcoin developers in general, not only Bitcoin Core developers.

I don't think they get enough money just from donations. I am not even sure if anyone really donates them or not. before reading your post. I didn't even know that they accept Bitcoin. i can imagine the majority of people didn't know that either. 
I always wondered how Bitcoin Core devs get paid. how much they make etc etc,
If this EFT will really fund Bitcoin Core Devs and they'll be properly compensated as they deserve then I really wish that the EFT gets approved really fast..

[MrSpasybo]

I don't think they get enough money just from donations. I am not even sure if anyone really donates them or not. before reading your post. I didn't even know that they accept Bitcoin. i can imagine the majority of people didn't know that either. 
I always wondered how Bitcoin Core devs get paid. how much they make etc etc,
If this EFT will really fund Bitcoin Core Devs and they'll be properly compensated as they deserve then I really wish that the EFT gets approved really fast..

Over the years, many BTC Devs have come to BitCore and many have left BitCore, but in the end Bitcoin has always been developed effectively. I believe that BTC Devs are working with motivation from passion, responsibility and donations from BTC/crypto community.

Currently, BTC Spot ETF has been approved and Bitwise has just announced that it will sponsor the development of Bitcoin's source code:

Bitwise Asset Management has announced that it will allocate 10% of profits from Bitwise Bitcoin ETF towards supporting Bitcoin open-source development. This substantial commitment will benefit three esteemed non-profit organizations: Brink, OpenSats, and the Human Rights Foundation's Bitcoin Development Fund^[1].

The advertising war through sponsoring BTC Dev is very hot, hope we will have more Senior BTC Devs in the future to get a better and more efficient Bitcoin protocol 💪💪💪
[1] Spot Bitcoin ETF issuer Bitwise pledges 10% of profits to fund open-source BTC development

[Nwada001]

That is in fact a very good news for the Bitcoin core developers and if VanEck can show such dedication towards developers of Bitcoin then other companies who are going to have their ETFs should also support the Bitcoin core developers.

It would be great if we can hear something similar from BlackRock, and it would be great to see if a huge hedge fund like BlackRock says something like that to support the Bitcoin core developers.

This is great news for both the bitcoin community, the developers, and for ETF, as this could be their means of marketing and attracting external support due to their plans to help them grow, but let's also not forget the fact that not all that's being said on the screen is going to be done just as they say it.
 
As big as Bitcoin, ETF is going to be donating 5% of its total profit to bitcoin developers, which is going to be a lot of money and will go a long way in expanding their research and development, but then again, what else aside from the donation is going to motivate VanEck and its associates? If they are providing large support to bitcoin development as an organisation, don't you think they will have to share a large amount in terms of voting decisions? Like trying to support and pass censorship on the bitcoin network on the new bitcoin core release?

I don't think they get enough money just from donations. I am not even sure if anyone really donates them or not. before reading your post. I didn't even know that they accept Bitcoin. i can imagine the majority of people didn't know that either. 
I always wondered how Bitcoin Core devs get paid. how much they make etc etc,
If this EFT will really fund Bitcoin Core Devs and they'll be properly compensated as they deserve then I really wish that the EFT gets approved really fast..

I believe you mean ETF and not EFT….

[MrSpasybo]

As big as Bitcoin, ETF is going to be donating 5% of its total profit to bitcoin developers, which is going to be a lot of money and will go a long way in expanding their research and development, but then again, what else aside from the donation is going to motivate VanEck and its associates? If they are providing large support to bitcoin development as an organisation, don't you think they will have to share a large amount in terms of voting decisions? Like trying to support and pass censorship on the bitcoin network on the new bitcoin core release?

+1 Nice idea!
I think the sponsorship is only for promoting and marketing BTC Spot ETF product of there providers to users, especially those interested in Bitcoin. This helps them have more customers and of course more annual management costs.

As far as I know, BTC Devs are independent and very talented individuals, there is no evidence that they were bribed by any billionaire. Even if they were bribed, the "dangerous" changes they proposed would not be easily approved by the Bitcoin community. We have hundreds of BTC Devs ready to analyze and share their views with the community to protect the Bitcoin network.

So at least we can rest assured that the future of the Bitcoin network is safe from the money of BTC Spot ETF providers.

In the long term impact, you can refer to and share your views in this topic: BTC Spot ETF is market poison?