BroadChain has learned that on March 6, Bitwise announced its second annual donation of $100,000 to Ethereum open-source developers.
This contribution fulfills part of Bitwise's pledge to allocate 10% of the annual gross profits from its Bitwise Ethereum ETF (ETHW) to the Ethereum Open Source Developer Program.
The funds will be directed to two non-profit organizations—Protocol Guild and the PBS Foundation—to support Ethereum protocol research and development, along with the maintenance of open-source infrastructure.
Hong Kim, Co-Founder and Chief Technology Officer of Bitwise, emphasized that open-source developers and researchers are fundamental to the Ethereum network's infrastructure. He stated that supporting these builders has been a core objective since ETHW's launch, aligning with Bitwise's commitment to foster growth within the crypto industry.
Since its debut in July 2024, the ETHW ETF has garnered cumulative inflows of $361 million. Bitwise currently oversees more than $15 billion in client assets and provides over 40 cryptocurrency investment products.