"Bitwise will donate 10% of the profits of the Bitwise Bitcoin ETF (ticker: BITB) to bitcoin open-source development," the company announced on X.
Recipient organizations include Brink, OpenSats, and the Human Rights Foundation and its Bitcoin Development Fund.
"Bitcoin was launched 15 years ago without a fundraise. It is maintained by a dedicated community of open-source developers who work tirelessly to improve bitcoin's security, scalability, and usability. They're the unsung heroes. All bitcoin investors benefit from this open-source work. But it is difficult for any one investor to pick up the bill. With the recurring donation, BITB creates a strong alignment between bitcoin investors and the strength of the underlying open-source infrastructure," was stated in the announcement.
"We’ve selected @BitcoinBrink, @OpenSats, and @HRF—fantastic non-profit organizations with established track records—to receive and allocate BITB’s recurring donations. The donations have no strings attached and will be made annually for at least the next 10 years."
"Bitwise first filed for a spot bitcoin ETF 5 years ago. Today is a milestone we do not take lightly. Our vision and hope for BITB is to be the ETF this space deserves. If you support this recurring donation to bitcoin open-source development, please help spread the word about BITB!"
"Finally, we want to express gratitude to the developers, researchers, builders, educators, investors, and the whole community striving to change the world for the better through bitcoin. The future is brighter because of you."
For more information on BITB and the donation program, visit www.bitbetf.com.