Bitwise Donates $233K of Bitcoin ETF Profits to Open-Source BTC Developers
Bitwise, a crypto asset management firm and ETF issuer, donated $233,000 to three Bitcoin developer organizations—Brink, OpenSats, and the Human Rights Foundation's Bitcoin Development Fund—to support maintenance and development of the Bitcoin network. This is Bitwise’s second consecutive annual donation funded from profits of its Bitcoin ETF, BITB, which has over $2.7 billion in assets under management. The selected organizations were chosen for their strong commitment to Bitcoin’s network and protocol. Bitwise emphasizes the importance of supporting independent, open-source developers as a form of stewardship within the crypto ecosystem. The firm manages over $15 billion in assets and offers more than 40 crypto-focused investment products, including ETFs for Bitcoin, Ethereum, XRP, Solana, and Dogecoin, with similar past donations made from ETH ETF profits. Bitwise predicts that cyclical price drivers in the Bitcoin market will have less impact going forward, and expects Bitcoin to reach new all-time highs, despite recent volatility in its price.
