10 months ago
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Supporting the open source developer community
Bitwise Asset Management announced on the 11th that it plans to donate 10% of the profits from the Bitcoin ETF “Bitwise Bitcoin ETF (ticker: BITB)” managed by the company to support the open source development of the crypto asset (virtual currency) Bitcoin. did.
The beneficiaries of the donation are Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund. The donation will be made to support the expansion of Bitcoin, and the plan is to continue over a 10-year period.
Bitwise CEO Hunter Horsley said:
Bitcoin started 15 years ago with no funding and has always been supported by a dedicated community of open source developers. We look forward to the Bitwise Bitcoin ETF providing continued funding to the unsung heroes who are essential to improving the security, scalability, and usability of the Bitcoin network.
connection:
Who is funding the development of the Bitcoin network? =Bitmex survey
Recipients are selected based on their mission and track record of funding Bitcoin open source development, and are subject to annual review.
Mike Schmidt, executive director of Brink, a nonprofit organization supporting work to improve the security, scalability, and functionality of the Bitcoin network, said:
It is important to support Bitcoin Core development in a long-term and sustainable manner. Bitwise’s 10-year commitment will be a win-win-win situation, with Bitwise’s profits leading to developer funding and improving the open source software that is the foundation of the industry.
VanEck, a major U.S. asset management company, recently announced an agreement to donate 5% of the profits of the Bitcoin spot ETF it submitted to the Bitcoin developer Brink if the ETF is approved.
connection:
VanEck will donate 5% of profits to Brink developer if Bitcoin spot ETF is approved
The ETF is scheduled to start trading on the 12th.
Source: Bloomberg
On the 11th, the U.S. Securities and Exchange Commission (SEC) approved applications for 11 Bitcoin spot ETFs (exchange traded funds). The ETFs will begin trading on the 12th and will be accessible through broker services such as Morgan Stanley’s E-Trade and Fidelity Investments.
The approval will allow individuals and institutional investors to acquire a means to invest in Bitcoin through traditional brokerage accounts, which is expected to attract investors who have not previously considered investing in Bitcoin.
connection:
Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks
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