Bitwise Asset Management has made a commitment to donate 10% of its profits from the Bitwise Bitcoin ETF to non-profit organizations that support the open-source development of Bitcoin (BTC). The primary beneficiaries of these donations will be three non-profit organizations: Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund.
The announcement was made by Bitwise CEO Hunter Horsley in a press release. Horsley expressed his excitement about the opportunity to fund and support Bitcoin core developers, particularly those who have been involved since the cryptocurrency’s inception. He referred to these individuals as the “unsung heroes” of Bitcoin. The donations will be made annually for the next decade without any conditions, demonstrating the firm’s long-term commitment to promoting a sustainable future for Bitcoin Core Development.
The chosen organizations have been recognized for their dedication to funding the open-source development of Bitcoin. They will undergo an annual review to ensure their ongoing alignment with Bitwise’s mission. Matt Odell, the founder of OpenStats, commended Bitwise for setting a precedent in supporting contributors who are vital to Bitcoin’s ecosystem. Alex Gladstein, the Chief Strategy Officer of the Human Rights Foundation, also expressed his delight at Bitwise’s commitment to supporting this important cause.
In comparison, Bitwise’s pledge to donate 10% of profits from the Bitcoin ETF is twice the amount offered by VanEck. VanEck pledged last week to donate 5% of its ETF profits to Brink, subject to approval. The firm has already initiated this commitment by donating $10,000 to Brink. This move underscores VanEck’s commitment to strengthening the fundamental infrastructure of Bitcoin.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Matt Odell, Alex Gladstein, Hunter Horsley, Mike Schmidt |
| Companies | Bitwise Asset Management, Human Rights Foundation’s Bitcoin Development Fund, VanEck, Brink, OpenSats |
| Currencies | Bitcoin |
| Securities | None |
