Asset management firm Bitwise has unveiled a new donation to support open-source innovation of the Bitcoin network. According to the firm’s update, this latest donation aligns with its promise to give back after its Bitwise Bitcoin ETF ($BITB) launch in January 2024.
Bitwise Aim to Boost Bitcoin Development
At the time, Bitwise hinted at its plan to give 10% of its gross profits each year to charity. In a recent development, the asset manager announced the donation, saying it is finally fulfilling its promise to the public.
Bitwise revealed on X that it will donate $150,000 to support Bitcoin’s open-source developers. The fund is designed to encourage developers who work tirelessly to secure and maintain the Bitcoin network.
This is the first annual donation since the promise was made. Bitwise intends to allocate the funds to three non-profit organizations: Bitcoin Brink, Open Sats, and the Human Rights Foundation (HRF). It believes these entities already have established tr
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