Bitwise Donates $250,000 to Support Bitcoin and Ethereum Development
Bitwise Asset Management has donated $150,000 to non-profits Brink, OpenSats, and the Human Rights Foundation to support Bitcoin open-source developers. This marks the first donation under its commitment to allocate 10% of gross profits from its Bitcoin ETF (BITB) annually.
Additionally, Bitwise contributed $100,000 to the Protocol Guild and the PBS Foundation for Ethereum protocol research. This is the inaugural annual donation following the launch of its Ethereum ETF (ETHW) in July 2024.
- As of February 18, BITB has recorded $2.16 billion in net inflows and holds approximately $3.76 billion in BTC.
- ETHW has accumulated $347.5 million in net inflows with total assets of around $277.86 million in ETH.
- Bitwise became the first US Bitcoin ETF provider to disclose its on-chain BITB holdings.
- The firm has filed for the Bitwise 10 Crypto Index Fund ETF to provide exposure to ten leading cryptocurrencies.
- The SEC has extended its decision deadline regarding the new fund proposal to March 3, 2025.
The crypto community has praised Bitwise's initiative as a positive step for supporting blockchain development. Hedge fund manager Thomas Kralow highlighted the importance of appreciating developers' efforts.