Bitwise Asset Management, a digital asset investment firm, today announced a $233,000 donation to support open source developers who maintain the Bitcoin network, funded by profits from its spot Bitcoin exchange-traded fund.
The contribution marks the firm’s second annual payout tied to BITB, fulfilling a pledge made at the fund’s January 2024 launch to direct 10% of gross profits each year toward development initiatives.
Three nonprofit organizations will receive the funds: Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund, all of which provide grants to contributors working on Bitcoin’s core infrastructure.
The firm framed the donation as a mechanism to channel a share of investor-generated returns back into the open source ecosystem responsible for maintaining and securing the network.
Bitwise indicated that as assets under management in BITB expand, its annual contributions to the developer community will grow proportionally.
Source: https://cryptobriefing.com/support-bitcoin-developers-donation/
