Bitwise donates $100,000 to Ethereum developers

Bitwise, a digital-asset (cryptocurrency) manager, said on the 5th (local time) that it has made its second annual donation to open-source developers responsible for the security and improvement of the Ethereum (ETH) network.

In a press release, Bitwise said it delivered a total of $100,000 to two nonprofits — Protocol Guild, which supports Ethereum protocol research and development (R&D), and PBS Foundation, which builds and maintains open-source infrastructure.

The donation was made in line with the firm’s pledge to return 10% of gross profits each year from its spot exchange-traded fund (ETF), the Bitwise Ethereum ETF (ticker: ETHW), to the developer ecosystem.

Hong Kim, Bitwise co-founder and chief technology officer (CTO), said, “Open-source developers and researchers play an enormously important role in the Ethereum network’s infrastructure,” adding, “When we first launched ETHW, we committed to supporting the people who directly build this ecosystem as the digital-asset industry grows.” He added that he is “proud to be able to continue our second annual donation to these outstanding organizations and support their important work.”

Meanwhile, Bitwise’s spot Ethereum ETF, ETHW, has recorded net inflows totaling $361 million to date since its official launch in the U.S. market in July 2024, successfully establishing itself in the market.