Bitcoin

Foundation

Spot

<p><strong>Bitwise Asset Management, a leader in digital asset management, has made a visionary commitment. The company has pledged to allocate 10% of the profits from its Bitcoin Spot ETF (BITB) to funding Bitcoin’s open-source development for a minimum period of 10 years. This is a first that paves the way for a new era of sustainable support for key contributors in the Bitcoin ecosystem.</strong></p>
<h2 id="h-bitcoin-is-built-on-the-work-of-volunteer-developers">Bitcoin is built on the work of volunteer developers</h2>
<p>Unlike traditional crypto-assets like <a href="https://www.cointribune.com/en/the-fake-approval-of-the-bitcoin-etf-greatly-benefits-ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>, Bitcoin is not owned by any central entity. Its source code is maintained and improved collaboratively by developers from around the world.&nbsp;</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>These volunteer contributors, who form the technical heart of Bitcoin, have so far had to rely on occasional donations and their personal commitment to keep the protocol alive on a day-to-day basis.</p>
<h2 id="h-10-of-the-profits-from-bitwise-s-bitcoin-spot-etf">10% of the profits from Bitwise’s Bitcoin Spot ETF<strong>&nbsp;</strong></h2>
<p>Bitwise <a href="https://twitter.com/BitcoinMagazine/status/1745205738010492943?t=QXoGmzi9Z_F3_qMrFgHEVQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">has committed</a> to donating no less than 10% of the profits generated by its Bitcoin Spot ETF (BITB) to funding the open-source development of Bitcoin.</p>
<p>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 the benefiting organizations.</p>
<p>The donations will go to three key entities that work in a complementary way within the Bitcoin ecosystem:</p>
<ul>
 <li>Brink</li>
 <li>OpenSats</li>
 <li>Bitcoin Development Fund from the Human Rights Foundation</li>
</ul>
<h2 id="h-a-visionary-approach-that-is-setting-a-trend">A visionary approach that is setting a trend</h2>
<p>More than just a public relations gesture, Bitwise’s commitment reflects a real understanding of the technological challenges unique to Bitcoin.</p>
<p>Unlike some players motivated solely by financial gains, Bitwise adopts a long-term approach that is in line with the decentralized and open-source nature of Bitcoin.</p>
<p>This innovative initiative is already starting to inspire others! VanEck, another major player in the industry, has pledged to donate 5% of the profits from its future Bitcoin ETF to the Brink foundation.</p>
<p>But Bitwise goes further by committing 10% of the profits from its ETF. A visionary choice that reflects the company’s willingness to truly support the long-term development of Bitcoin.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<p>With its commitment of 10% of the profits from the BITB Bitcoin Spot ETF, Bitwise has made a decision that is both visionary and pragmatic. Visionary because this initiative opens the door to a new era where Bitcoin’s open-source developers can benefit from recurring and stable financial support. And pragmatic because Bitwise has targeted this support at several key and complementary organizations. Everything is being done to maximize the impact on Bitcoin’s development.</p>

ETF Bitcoin – Bitwise promises to donate 10% of profits to Bitcoin development.

Table of Contents

Cointribune EN

Other articles published on Jan 11, 2024

What spot Bitcoin ETF means for XRP and other altcoins

Upland distributed $13.5m to players in December 2023

BobaCat Redefines the Role of Meme Tokens: Making Real-World Impact with Crypto Philanthropy in 2024

Vitalik Buterin is considering increasing the Ethereum gas limit

Dogwifhat and $BONK Recover but Solana Memecoins Still Weak Overall; $GFOX Presale Rages Above $2...

Bitcoin – The saga continues

Join our free newsletter for daily crypto updates!