Bitwise sent $233K from its $2.7B Bitcoin ETF to fund Bitcoin developers. Here’s what the donation covers and why it matters.
Bitwise Asset Management has made its second annual Bitcoin developer donation.
The crypto asset manager confirmed a $233,000 contribution drawn from profits of its Bitwise Bitcoin ETF (BITB). The funds go directly to nonprofits supporting the people who maintain Bitcoin’s core code.
Since BITB launched in January 2024, Bitwise has pledged to donate 10% of its gross profits each year.
Bitwise Bitcoin ETF Fulfills Annual Donation Pledge
The donation marks a year of solid growth for BITB.
Bitwise noted the ETF now manages $2.7 billion in assets, making this year’s contribution larger than the first. The company reaffirmed that this giving is tied directly to the fund’s performance.
As the ETF grows, so does the annual payout.
Bitwise announced its official channels, with CIO Matt Hougan also taking to X to highlight the move. Hougan pointed out that BITB stands alone in making this kind of recurring commitment.
No other Bitcoin ETF, he noted, donates a portion of its profits to open-source developers. The post drew attention from Bitcoin community members who welcomed the show of institutional support.
Three Nonprofits Receive Bitcoin Developer Funding
The $233,000 donation splits across three nonprofit organizations.
Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund each receive a portion of the funds. All three groups focus on supporting the developers who work to maintain and secure the Bitcoin network.
Brink provides grants and mentorship to Bitcoin protocol developers.
OpenSats funds open-source contributors across the broader Bitcoin ecosystem. The Human Rights Foundation’s Bitcoin Development Fund supports developers who advance Bitcoin as a tool for financial freedom.
Together, these organizations help ensure Bitcoin’s underlying code stays secure, updated, and in capable hands.
Bitwise described the three groups as organizations whose missions are to safeguard and grow Bitcoin. The company said the funds would go to what it called the “unsung heroes” of the network.
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Institutional Bitcoin Support and the Open-Source Ecosystem
Bitwise framed the donation as a direct reinvestment into the ecosystem that makes BITB possible.
Without Bitcoin developers maintaining the network, the ETF itself would have nothing to track. The company acknowledged that its investors make this contribution possible by choosing to invest in BITB.
The firm expressed gratitude to its investors and described standing alongside them in supporting Bitcoin’s open-source foundation. Bitwise also signaled that this is not a one-time effort. As BITB continues to grow, the annual donation amount will rise with it.
The company positioned the pledge as part of its long-term commitment to being a responsible participant in the Bitcoin ecosystem.
The crypto community has responded positively, with many praising the move as an example of institutional money giving back rather than just extracting value.
Source: https://www.livebitcoinnews.com/bitwise-sends-233000-from-2-7b-bitcoin-etf-to-btc-developers-heres-why/
