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CryptoIntelligence 2024-07-25 07:02:00

Bitwise to Donate 10% of Ethereum ETF Profits to Support Ethereum Development

Bitwise to Donate 10% of Ethereum ETF Profits to Support Ethereum Development

As spot Ether exchange-traded funds (ETFs) prepare for their debut, asset manager Bitwise has committed to donating 10% of its profits to Ethereum developers. On July 22, the United States Securities and Exchange Commission (SEC) approved the final S-1 statements necessary for spot Ether ETFs to launch on major stock exchanges, including Nasdaq, the Chicago Board Options Exchange, and the New York Stock Exchange (NYSE). As it launches its ETF on the NYSE, Bitwise announced that 10% of all profits from the Bitwise Ethereum ETF (ETHW) would be donated to two Ethereum-focused organizations. According to Bitwise, the proceeds will benefit

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