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Bitwise donates $230,000 to support Bitcoin open-source developers, funded by BITB profits.

GateNews
bitcoin newsProject ProgressIndustry Reports
BTC-2,67%

March 5 News, digital asset investment firm Bitwise Asset Management announced it will donate $233,000 to support open-source developers of the Bitcoin network. This donation comes from the profits of its spot Bitcoin exchange-traded fund (BITB) and is the company’s second annual dividend since launching the fund in January 2024.

Bitwise stated that this donation aligns with its commitment to allocate 10% of the total profits of the BITB fund each year to support Bitcoin development projects. The funds will be distributed to three non-profit organizations: Brink, OpenSats, and the Bitcoin Development Fund, which are dedicated to funding developers working on Bitcoin’s core infrastructure.

The company emphasized that as the assets under management of the BITB fund continue to grow, its annual donations to the Bitcoin developer community will increase further, rewarding open-source developers who work to ensure the security and stability of the Bitcoin network.

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