- Bitwise plans to donate 10% of Bitwise Bitcoin ETF (BITB) profits to Bitcoin open-source development.
- Recipient organizations include Bitcoin Brink, OpenSats, and the Human Rights Foundation (HRF).
- VanEck pledges an initial $10,000 donation and 5% of Bitcoin ETF profits to support Bitcoin Core developers.
Bitwise and VanEck, prominent ETF providers, have announced their commitment to contributing a portion of their Bitcoin ETF profits. The tweet comes as the U.S. Securities and Exchange Commission (SEC) greenlights the pending Bitcoin ETF applications in the U.S.
Bitwise, in a recent tweet, revealed its intention to donate 10% of the profits from its Bitwise Bitcoin ETF (BITB) to Bitcoin open-source development. The selected recipient organizations include Bitcoin Brink, OpenSats, and the Human Rights Foundation (HRF).
This recurring donation, spanning at least the next decade, is designed to create alignment between Bitcoin investors and the robustness of the underlying open-source infrastructure. Bitwise also acknowledged the collective benefit derived by all Bitcoin investors from this open-source work.
In a tweet, Bitwise said:
All bitcoin investors benefit from this open-source work. But it is difficult for any one investor to pick up the bill.
Bitwise stated that its commitment to supporting the Bitcoin ecosystem is the culmination of a journey that began five years ago when they first filed for a spot Bitcoin ETF. With the selection of these organizations as recipients and a decade-long commitment, Bitwise aims to solidify BITB as the ETF race begins.
Following suit, VanEck, in a separate tweet, emphasized its long-term commitment to Bitcoin by pledging an initial $10,000 donation and a further 5% of its Bitcoin ETF profits to support Bitcoin Core developers for at least the next decade.
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