Crypto fund manager Bitwise Asset Management on Tuesday announced that it will donate 10% of all profits from Bitwise Ethereum ETF (NYSE:ETHW) to support Ethereum‘s (CRYPTO: ETH) open-source development community.
What Happened: The donations will be directed to two key organizations: Protocol Guild, a grassroots funding organization supporting over 170 core contributors to Ethereum Layer-1 protocol research and development, and PBS Foundation, a non-profit funding open-source Ethereum block relays and related research.
Hong Kim, Bitwise’s Chief Technology Officer, emphasized the importance of this initiative, stating, “Ethereum, as an open-source technology, is maintained by a dedicated community of open-source developers. Every investor in ETHW wants Ethereum to continue to advance, and this donation program contributes to that goal.”
Full story available on Benzinga.com