Bitwise Donates Over $380,000 to Bitcoin Developers to Support Open Source Ecosystem

Since 2024, crypto asset management firm Bitwise has cumulatively donated $383,000 to open-source developers who maintain and secure the Bitcoin network. The latest donation of $233,000 was recently announced, further demonstrating its commitment to the long-term support of Bitcoin's underlying infrastructure. When the BITB Bitcoin ETF was launched in January 2024, Bitwise announced that it would allocate 10% of its annual gross profits to fund the Bitcoin development community. Today, the total market capitalization of the Bitcoin network has exceeded $1.4 trillion, and developers play an increasingly critical role in protocol security, code maintenance, and technological innovation. This donation will be coordinated and distributed by three non-profit organizations dedicated to promoting Bitcoin development: Bitcoin Brink, OpenSats, and the Bitcoin Development Fund under the Human Rights Foundation.

Based on the donation amount, BITB achieved a gross profit of approximately $2.33 million in its second year of operation. Although BITB's net inflow is still behind IBIT ($62.4 billion) and FBTC ($11 billion) in the U.S. Bitcoin ETF market, its asset size steadily increased from $2.17 billion to $2.21 billion in the first nine weeks of 2024, demonstrating stable investor confidence.