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Bitwise Donates $233,000 from Bitcoin ETF Profits to Open-Source Developers

Bitwise continues supporting Ethereum development with a second $100,000 donation from its ETHW ETF profits, reinforcing its commitment to funding Protocol Guild and PBS Foundation initiatives.

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Fact Check
The statement is confirmed by Bitwise's official newsroom and multiple reputable news outlets. The donation of $233,000 is the second annual payment under Bitwise's pledge to donate 10% of the gross profits from its BITB ETF to support Bitcoin open-source development.
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Summary

Bitwise Asset Management made a second $100,000 donation to Ethereum open-source developer organizations, Protocol Guild and PBS Foundation, sourced from 10% of gross profits of its Bitwise Ethereum ETF (ETHW). Since its July 2024 launch, the ETHW ETF has received $361 million in inflows, highlighting strong investor interest in Ethereum-focused investment products.

Terms & Concepts
  • Ethereum ETF: An exchange-traded fund that provides investors exposure to Ethereum’s market performance without directly holding the cryptocurrency.
  • Protocol Guild: A collective of Ethereum core contributors who coordinate funding for developers maintaining the network’s core protocol.
  • PBS Foundation: An organization supporting Ethereum’s Proposer-Builder Separation initiative, enhancing fairness and efficiency in block production.