Bitcoin ETF

Bitcoin

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 <p class="is-style-lead">Crypto index fund manager Bitwise pledges to allocate 10% of <a rel="dofollow" title="profits" href="https://thebittimes.com/tag/profits.html">profits</a> from the Bitwise Bitcoin ETF to <a rel="dofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> Bitcoin <a rel="dofollow" title="open-source" href="https://thebittimes.com/tag/open-source.html">open-source</a> <a rel="dofollow" title="development" href="https://thebittimes.com/tag/development.html">development</a>.</p> 
 <p>In an X thread on Jan. 11, Bitwise says it will send the proceeds of its Bitcoin spot ETF to three crypto organizations: Brink, OpenSats, and Human Rights Foundation.</p> 
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    <p lang="en" dir="ltr">Bitwise will donate 10% of the profits of the Bitwise Bitcoin ETF (ticker: BITB) to bitcoin open-source development.<br><br>Recipient orgs:<br>– @BitcoinBrink<br>– @OpenSats<br>– @HRF<br><br>Bitcoin is important to the future. We're excited for $BITB to support its foundation pic.twitter.com/JMzd4bMOB9</p>— Bitwise (@BitwiseInvest) January 10, 2024
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 <p>Bitwise says that with the donations it wants to “express gratitude to the developers, researchers, builders, educators, investors, and the whole community striving to change the world for the better through Bitcoin.”</p> 
 <p>Investment firm VanEck earlier also pledged to allocate 5% of potential <a rel="dofollow" title="profits" href="https://thebittimes.com/tag/profits.html">profits</a> from its proposed spot Bitcoin ETF to <a rel="dofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> Bitcoin core developers at Brink. In a statement, VanEck expressed gratitude and acknowledged the role developers play as cornerstones of the Bitcoin ecosystem.</p> 
 <p>The announcement comes shortly after the U.S. Securities and Exchange Commission (SEC) granted approval to 11 firms, including Bitwise, BlackRock, and Grayscale. The firms are now authorized to start offering the first U.S.-listed exchange-traded funds (ETFs) tracking Bitcoin.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> JPMorgan CEO criticizes BTC despite backing BlackRock Bitcoin ETF 
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 <p>As crypto.news reported, the ETFs are approved for listing on all registered national exchanges in the U.S., including the Nasdaq, NYSE, and CBOE, with trading going live at the CBOE from 9 am on Jan. 11, when the U.S. stock market opens.</p> 
 <p>Hours before approval arrived, BlackRock and ARK 21Shares filed&nbsp;amended&nbsp;applications disclosing even lower fees than previously mentioned. However, Bitwise still offers the lowest management fees at 0.2%, followed by ARK 21Shares, BlackRock, and Fidelity in that order.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> US Senators urge SEC for clarity following misleading tweet on Bitcoin ETFs 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/bitwise-to-donate-10-of-bitcoin-etf-profits-to-support-open-source-development-tbt76246.html">https://thebittimes.com/bitwise-to-donate-10-of-bitcoin-etf-profits-to-support-open-source-development-tbt76246.html</a></p>

Bitwise to donate 10% of Bitcoin ETF profits to support open-source development

TheBitTimes

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