Ethereum

United

Bitcoin ETF

Bitwise Asset Management has made a notable&nbsp;<a style="text-decoration:none" href="https://bitwiseinvestments.com/newsroom/bitwise-to-donate-10-percent-of-profits-of-bitb">announcement</a> to donate 10% of the profits from its new Bitwise&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/grayscale-seeks-sec-approval-to-convert-ethereum-trust">Ethereum ETF</a> (ticker: ETHW) to support Ethereum open-source developers. This move aims to promote the continuous development and advancement of the Ethereum network, benefiting the broader blockchain ecosystem.
Bitwise's donation program will focus on key organizations within the Ethereum ecosystem, namely the Protocol Guild and PBS Foundation. These entities play critical roles in supporting Ethereum’s Layer 1 protocol and funding open-source block relays and related research.
&nbsp;
<blockquote>
 Hong Kim, CTO at Bitwise, emphasized the importance of these contributions: "Ethereum is an open-source technology supported by a community of developers. Our investors in ETHW want Ethereum to evolve, and this donation program ensures that happens."
</blockquote>
The donation commitment will span the next ten years, with annual contributions to Ethereum development organizations. The recipient organizations will be reviewed annually to ensure that the funds are effectively supporting the ecosystem.
&nbsp;
In addition to the donation announcement, Bitwise has disclosed that all ETHW holdings will be visible through Ethereum addresses. This transparency aims to build trust and provide clarity for investors.&nbsp;
<h2 dir="ltr" id="span-span-launching-ethw-on-the-new-york-stock-exchange-span-span">Launching ETHW on the New York Stock Exchange</h2>
The Bitwise Ethereum ETF is set to begin trading on the New York Stock Exchange on July 23. The ETF will offer direct exposure to Ethereum (ETH), the second-largest cryptocurrency by market capitalization. This development follows the approval of spot Ethereum ETF products by the United States Securities and Exchange Commission (SEC).&nbsp;
&nbsp;
A management&nbsp;<a style="text-decoration:none" href="https://markets.ft.com/data/announce/detail?dockey=600-202407221728BIZWIRE_USPRX____20240722_BW523467-1">fee of 0.20%</a> will be charged on the initial $500 million in assets, which will be waived for the first six months.
&nbsp;
The launch of ETHW follows the successful Bitwise Bitcoin ETF (BITB), which rapidly amassed $2.7 billion in assets under management.
<h2 dir="ltr" id="span-span-the-broader-impact-of-ethereum-etfs-span-span">The Broader Impact of Ethereum ETFs</h2>
The launch of ETHW represents a significant milestone in the growing acceptance of Ethereum-based financial products. With the success of the Bitwise Bitcoin ETF setting a precedent, the introduction of the Ethereum ETF provides investors with more options to diversify their portfolios. The ETF's low-cost structure and initial fee waiver make it an attractive investment vehicle.
&nbsp;
Hougan noted that the introduction of Ethereum ETPs could attract billions in new investments, potentially driving ETH to new all-time highs in 2024.&nbsp;

Bitwise Announces 10% Donation of Ethereum ETF Profits to Open-Source Developers

Innehållsförteckning

BSCN

Andra artiklar publicerade 29 juli 2024

Pepecoin Whale Falls In Love With New Crypto Mpeppe (MPEPE) Highlighting Its Utility

Solana Eyes $250 as Bitcoin Nears $70K

Bitcoin Expected to Reach New All-Time Highs This Week, Ending 137-Day Correction Phase

How Has Crypto Mining Evolved to Accommodate Novice Miners?

Bitcoin Price Starts the Week Strong Above $69,000

Is Hong Kong Stockpiling Bitcoin? Insights from Legislative Council’s Johnny Ng

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!