Bitwise's Ethereum ETF: 10% of Profit Allocated to Fund Open Source Developers

IconCryptoNewsTerminal Staff22 Jul, 2024

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Bitwise's Ethereum ETF: 10% of Profit Allocated to Fund Open Source Developers

Bitwise recently announced the launch of its Ethereum Spot ETF (ETHW), which offers a unique twist: 10% of the ETF's profit will be allocated to fund open source Ethereum developers. This innovative approach showcases Bitwise's commitment to supporting the Ethereum ecosystem. The ETHW ETF invests directly in ETH and boasts a management fee of 0.2% (with a 0% fee for the first six months). To ensure transparency, Bitwise has made the ETH address publicly available on both the ETHW website and their own platform. The ETF currently holds approximately 717.42 ETH across five addresses. This initiative aligns with Bitwise's mission to foster the growth and adoption of digital assets. By channeling a portion of the ETF's profits towards open source developers, the company aims to contribute to the ongoing innovation and improvement of the Ethereum platform.

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