Key Takeaways
- Bitwise donated $150,000 to Bitcoin developers from BITB profits.
- The donation supports Brink, OpenSats, and the Human Rights Foundation.
- BITB has seen nearly $2.3 billion in net inflows since launch.
Bitwise has donated $150,000 to three nonprofit organizations supporting Bitcoin open-source development: Brink, OpenSats, and the Human Rights Foundation (HRF).
The contribution represents 10% of the gross profits from its spot Bitcoin ETF, BITB, a commitment made since the fund’s launch.
Company statement
The company stated:
As 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.
Bitwise CEO Hunter Horsley expressed gratitude to investors for choosing BITB, highlighting their role in enabling the initiative.
ETF performance
BITB has been one of the more competitive Bitcoin ETFs, charging a 0.2% fee, tying with VanEck’s HODL while being slightly higher than Franklin Templeton’s EZBC and Grayscale’s Bitcoin Mini Trust.
Since launch, BITB has recorded nearly $2.3 billion in net inflows, making it the fourth-largest U.S.-traded Bitcoin ETF in terms of inflows.
According to Bitbo Treasuries, Bitwise holds 41,152 BTC, worth approximately $3.9 billion.
Recipient organizations
The three recipient organizations play vital roles in Bitcoin development.
Brink has supported 20 grantees and secured sponsorships with Xapo, Coinbase, and Marathon Digital.
OpenSats recently completed its ninth round of grants for Bitcoin projects, while HRF’s Bitcoin Development Fund has distributed over $5.5 million through 174 grants since its inception five years ago.
