Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»BITCOIN NEWS»Spot Bitcoin ETF issuer Bitwise pledges 10% of profits to fund open source BTC development
BITCOIN NEWS

Spot Bitcoin ETF issuer Bitwise pledges 10% of profits to fund open source BTC development

By Crypto FlexsJanuary 11, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Spot Bitcoin ETF issuer Bitwise pledges 10% of profits to fund open source BTC development
Share
Facebook Twitter LinkedIn Pinterest Email

According to a press release sent to Bitcoin Magazine, today Bitwise Asset Management announced a new initiative confirming its commitment to allocate 10% of Bitwise Bitcoin ETF (BITB) profits to supporting Bitcoin open source development.

Donations will benefit three respected non-profit organizations: Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund.

“Bitcoin launched 15 years ago without any funding and has always been maintained by a dedicated community of open source developers,” said Hunter Horsley, CEO of Bitwise. “We are excited that the Bitwise Bitcoin ETF (ticker: BITB) will provide a recurring source of funding to the unsung heroes who work tirelessly every day to improve the security, scalability, and usability of the Bitcoin network.”

The donation, which will be made annually for the next 10 years, comes with no strings attached and reinforces Bitwise’s long-term commitment to fostering sustainable support for Bitcoin core development.

“It is important to support Bitcoin core development in a way that is sustainable over the long term,” said Mike Schmidt, Managing Director of Brink. “Bitwise’s 10-year commitment is a win-win-win, with Bitwise profits leading to developer funding that leads to improvements in the open source software that underpins the industry.”

According to the announcement, grantees were carefully selected based on their established track record and commitment to funding Bitcoin open source development, and underwent annual reviews to ensure ongoing alignment with Bitwise’s mission.

OpenSats co-founder Matt Odell acknowledged Bitwise’s proactive stance, praising the company for setting a precedent in supporting open source contributors essential to the Bitcoin ecosystem: . “Bitwise is leading the way and setting an example for all Bitcoin ETF issuers going forward.”

The pledge to donate 10% of spot Bitcoin ETF profits is double the amount another issuer, VanEck, pledged to donate last Friday. VanEck will also donate proceeds to Brink.

“Bitcoin is an important part of the technology of freedom that serves financially oppressed people around the world today,” said Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation. “We launched the Bitcoin Development Fund to support the developers who make all of this possible, and we’re excited that Bitwise is committed to supporting this important cause.”

For more information about BITB and its donation program, interested parties can visit the website, heralding a new era of continued support for the fundamental development of Bitcoin.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sequans starts $ 384M Bitcoin Treasury Initiative with Swan Bitcoin Partnership.

June 23, 2025

ECB Chairman Lagarde aims to seize the global order to strengthen the Euro’s global position.

June 17, 2025

Bitcoin aims for $ 115K after US CPI data prefers investors.

June 11, 2025
Add A Comment

Comments are closed.

Recent Posts

Zama Raises $57M In Series B To Bring End-to-End Encryption To Public Blockchains

June 25, 2025

Gelato And Morpho Partner To Offer Embedded Crypto-Backed Loans For Wallets, Brokers, And Fintech Apps

June 25, 2025

Magic Newton Foundation Redefines Fair Token Launches With $NEWT

June 25, 2025

Like the initial Cardano, a way to reach $ 300 for Loy tokens more than $ 450K

June 25, 2025

AIXA Miner 2025 | AI-Driven Dogecoin Cloud Mining For Stable Daily Passive Income

June 24, 2025

Stably Introduces Stablecoin Development & Advisory Services For Institutions & Enterprises

June 24, 2025

Senior Trader Uses XRP To Start Bitcoin (BTC) Mining Machine, Earning $8,857 A Day

June 24, 2025

WF Holding Ltd Announces Entry Into The Digital Cryptocurrency Field

June 24, 2025

Crypto Scam Markets thrives again after attempting to clean up Telegram.

June 24, 2025

On the 7th, NFT transaction sales volume of immutable tower

June 24, 2025

Sequans starts $ 384M Bitcoin Treasury Initiative with Swan Bitcoin Partnership.

June 23, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Zama Raises $57M In Series B To Bring End-to-End Encryption To Public Blockchains

June 25, 2025

Gelato And Morpho Partner To Offer Embedded Crypto-Backed Loans For Wallets, Brokers, And Fintech Apps

June 25, 2025

Magic Newton Foundation Redefines Fair Token Launches With $NEWT

June 25, 2025
Most Popular

Bitcoin price needs to peak above $69,000 by mid-week as US dollar surges

October 22, 2024

Iran-Israel conflict spurs $860 million sell-off due to financing rates

April 13, 2024

U.S. strengthens microchip exports to maintain AI leadership in China

January 21, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.