Bitwise Asset Management has announced that it will donate 10% of the profits from its Bitwise Bitcoin ETF to support the development of open-source Bitcoin projects. CEO Hunter Horsley expressed excitement about funding core developers, recognizing their crucial role in Bitcoin's history. This decision comes after the SEC approved several spot Bitcoin ETF applications, allowing traditional asset managers to offer Bitcoin exposure to their clients. Bitwise clarified that the donations are not expected to be repaid and will be made annually for at least the next ten years. The company's support for Bitcoin open-source development aligns with its focus on established credibility and recognition of the importance of sustained support for the growth and innovation of the Bitcoin ecosystem.
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