Bitcoin ETF - Bitwise pledges 10% of profits to Bitcoin development

Bitwise Asset Management, a leader in digital asset management, has just made a visionary commitment. The company has promised to allocate 10% of the profits from its Bitcoin Spot ETF (BITB) to finance the open source development of Bitcoin, over a minimum period of 10 years. A first which paves the way for a new era of lasting support for key contributors to the Bitcoin ecosystem.

Bitcoin relies on the work of volunteer developers

Unlike classic crypto-assets like Ethereum, bitcoin does not belong to any central entity. Its source code is maintained and improved in a fully collaborative manner by developers around the world.

These voluntary contributors, who form the technical heart of Bitcoin, have until now had to make do with one-off donations and their personal commitment to continue to keep the protocol alive on a daily basis.

10% of profits from Bitwise’s Bitcoin Spot ETF

Bitwise engaged himself to contribute no less than 10% of the profits generated by its Bitcoin Spot ETF (BITB) to financing the open source development of Bitcoin.

And this is not a short-term commitment. Bitwise has promised to maintain this effort for at least 10 years, thus providing unprecedented visibility to beneficiary organizations.

The donations will go to three key entities working in a complementary manner within the Bitcoin ecosystem:

  • Brink
  • OpenSats
  • Bitcoin Development Fund of the Human Rights Foundation

A visionary approach that is emulated

More than a simple communication stunt, Bitwise’s commitment demonstrates a real understanding of the technological issues specific to Bitcoin.

Unlike some players motivated solely by financial gains, Bitwise takes a long-term approach. And this is in line with the decentralized and open source nature of Bitcoin.

This innovative initiative is already starting to gain traction! VanEck, another major player in the sector, has committed to donating 5% of the profits from its future Bitcoin ETF to the Brink foundation.

But Bitwise goes further by committing up to 10% of the profits of its ETF. A visionary choice that reflects the company’s desire to truly support the development of Bitcoin in the long term.

With its commitment of 10% of the profits of the Bitcoin Spot BITB ETF, Bitwise has made a decision that is both visionary and pragmatic. Visionary because this initiative opens the way to a new era where open source Bitcoin developers will be able to benefit from recurring and stable financial support. And pragmatic because Bitwise has targeted this support at several key and complementary organizations. Everything is done for maximum impact on the development of Bitcoin.

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