The $150,000 is the first BITB-related donation, directed at nonprofits Brink, OpenSats, and Human Rights Foundation.<\/p>\n 2 min read<\/span><\/p>\n Updated:<\/span> Feb. 18, 2025 at 8:55 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n Bitwise<\/a> donated $150,000 to support Bitcoin (BTC<\/a>) open-source developers, according to a Feb. 18<\/span> announcement<\/a><\/strong>. <\/span><\/p>\n The funds are equivalent to 10% of the gross profits from its spot Bitcoin exchange-traded fund (ETF), BITB<\/a>, an amount pledged since the product\u2019s inception.\u00a0<\/span><\/p>\n The first contribution will be distributed among three nonprofit organizations: Brink, OpenSats, and the Human Rights Foundation (HRF).<\/span><\/p>\n Bitwise stated:<\/span><\/p>\n \u201cAs BITB grows, so too will our contribution. Bitcoin is changing the world, and Bitwise will always strive to do our part to be a good steward of this incredible ecosystem alongside you.\u201d<\/strong><\/p>\n<\/blockquote>\n Additionally, the company acknowledged its investors as key enablers of this initiative and expressed gratitude to those who chose BITB among various ETF options.<\/span><\/p>\n Bitwise CEO Hunter Horsley also expressed<\/a> his gratitude to investors for choosing BITB and said he is proud of Bitwise\u2019s contribution.<\/p>\n BITB\u2019s 0.2% fees are among the smallest US-traded Bitcoin ETFs. They tie with VanEck\u2019s<\/a> HODL<\/a>, one basis point above Franklin Templeton\u2019s<\/a> EZBC<\/a>, and five basis points larger than Grayscale\u2019s<\/a> Bitcoin mini trust.<\/span><\/p>\n BITB\u2019s net flows since launch have been positive by nearly $2.3 billion, making it the fourth-largest US-traded Bitcoin ETF in inflows, based on Farside Investors<\/span>\u00a0data<\/a><\/strong>.\u00a0<\/span><\/p>\n Arkham Intelligence<\/span> data<\/a><\/strong> revealed that Bitwise holds 41,152 BTC, worth roughly $3.9 billion as of press time.<\/span><\/p>\n All three institutions have established track records of supporting Bitcoin development, and they play a crucial role in maintaining and improving the network\u2019s security, functionality, and decentralization.<\/span><\/p>\n Brink has<\/span> reported<\/a><\/strong> support to 20 grantees scattered worldwide and secured sponsorship deals with industry names such as Xapo, Coinbase, and Marathon Digital. It also offers a fellowship program to developers interested in working in the Bitcoin ecosystem.<\/span><\/p>\n Meanwhile, OpenSats recently completed its<\/span> ninth round of grants<\/a><\/strong> to Bitcoin-based projects through its General Fund. The charity aims to foster Bitcoin and Bitcoin-adjacent software and improve existing open-source software.<\/span><\/p>\n The Human Rights Foundation (HRF) was founded in 2005 to promote and protect human rights globally. Its Bitcoin Development Fund (BDF) was created five years ago and has donat<\/span>ed over $5.5 million through 174 separate grants since then, according to its official webpage<\/a>.<\/strong><\/span><\/p>\n![\"bitcoins](\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/imgresize\/timthumb.php?src=https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/02\/bitwise-bitcoin.jpg&w=70&h=37&q=75\")
Bitwise pledges 10% of BITB ETF gross profits to Bitcoin developers<\/span> Gino Matos \u00b7<\/span> 2 weeks ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n![](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/08\/cs-gino-150x150.jpg\")
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Bitcoins Fostering Bitcoin development<\/strong><\/h2>\n
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