TLDR:
- Bitwise donated $233K from BITB profits to Bitcoin nonprofits in its second annual giving cycle.
- BITB now manages $2.7B in assets, directly increasing the size of this year’s developer donation.
- Brink, OpenSats, and HRF’s Bitcoin Fund split the contribution across open-source development grants.
- Bitwise CIO Matt Hougan says BITB is the only ETF with an ongoing profit-share pledge to developers.
Bitwise Asset Management has donated $233,000 to three Bitcoin-focused nonprofits. The funds come directly from profits generated by its Bitwise Bitcoin ETF, ticker BITB.
This marks the second consecutive year the firm has fulfilled a pledge made at the ETF’s January 2024 launch. The commitment ties 10% of gross annual profits to open-source Bitcoin development support.
Bitwise Bitcoin ETF Profits Fund Developer Grants for Second Straight Year
Bitwise directed the donation across three organizations. Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund each received a portion.
All three groups focus on funding and training developers who maintain Bitcoin’s core infrastructure. None of them operate for profit.
The pledge originated when BITB first launched in January 2024. Bitwise committed to donating 10% of gross profits annually. The first donation followed that same year. This second contribution signals the firm intends to make the practice routine.
BITB has grown considerably since its debut. The fund now manages approximately $2.7 billion in assets under management. That growth directly increased the size of this year’s donation compared to the first.
Larger assets mean larger profits, and a larger share flows to developers.
Bitwise’s Chief Investment Officer Matt Hougan pointed out that BITB stands alone among ETFs in making this type of ongoing commitment.
No other Bitcoin ETF has structured a recurring donation tied to fund profits. The observation drew attention within the Bitcoin community.
Brink, OpenSats, and HRF Bitcoin Fund Split the $233,000 Contribution
Brink focuses on supporting full-time Bitcoin protocol developers through fellowships and grants. OpenSats funds open-source contributors working on Bitcoin and related projects.
The Human Rights Foundation’s Bitcoin Development Fund supports developers in regions where financial freedom is restricted.
Each organization allocates funds independently based on its own grant criteria. Bitwise does not direct how recipients distribute the money. The structure keeps the donation at arm’s length from any product or promotional interest.
Bitwise shared the announcement publicly via its official channels. The post credited investors who chose BITB for making the donation possible. It framed the contribution as a reinvestment into the ecosystem supporting the ETF itself.
The broader Bitcoin development community responded positively. The model connects institutional capital with open-source infrastructure in a direct, measurable way. Observers noted it creates a feedback loop: more BITB investment leads to more developer funding.
Bitwise has not disclosed projections for next year’s donation. The amount will depend on BITB’s profit performance through 2025.
The post Bitwise Cuts $233K Check to Bitcoin Devs Using BITB ETF Profits appeared first on Blockonomi.
Source: https://blockonomi.com/bitwise-cuts-233k-check-to-bitcoin-devs-using-bitb-etf-profits/
