Bitwise Ethereum ETF will distribute 10% of profits to ETH developers! Buterin: I hope all charity projects will receive support

This site (120bTC.coM): Ethereum spot ETF issuer Bitwise revealed this morning that it will donate 10% of the profits from the newly launched ETHW fund to Ethereum open source developers, saying that their credit cannot be regarded as Of course, this move can be described as a sign of friendship between TradFi and innovative financial technology.

Bitwise Ethereum ETF will distribute 10% of profits to Ethereum developers

Bitwise announced the launch of a new Ethereum ETF (code: ETHW) in a tweet on the 23rd, and introduced its features in detail:

• The fund will Invest directly in ETH

• charge 0.20% management fee (no management fee for the first six months or until the transaction volume reaches 500 million US dollars)

• 10% of the fund profits will be donated to Ethereum open source developers

• Achieve transparency through the fund’s public Ethereum address

• Co-created by cryptocurrency experts

The company went on to say that the funds will express support for Ethereum open source developers through the Protocol Guild and PBS Foundation.

Bitwise further emphasized that it is happy that ETHW can support those working on the Ethereum protocol: We cannot take the operation of Ethereum and its core protocol for granted, these unsung heroes are working hard every day to improve the network Security, scalability and availability.

And added, "Donations will be made annually for at least the next ten years, and the organizations receiving donations may change based on annual reviews."

This morning, the first trading of Bitwise Ethereum Spot ETF (code: BITB) Daily net inflows reached $204 million.

Vitalik: I hope that all charity projects will receive support

In this regard, Ethereum co-founder Vitalik Buterin also expressed his gratitude through a message: I am very happy to see the Protocol Guild and PBS Foundation receive support! Looking forward to more projects and organizations following yours Donate to these charity projects that are of great significance to the entire ecosystem.

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