Supporting Innovation: Bitwise Pledges 10% Of Ethereum Spot ETF To Open-Source Developers

Quick Summary:

As excitement regarding the launch of the much-anticipated Ethereum Spot Exchange-Traded Funds (ETFs) brews, asset management company, Bitwise, in a groundbreaking move for the crypto industry is set to donate a portion of its profits from its ETH spot ETF to Ethereum open-source developers.

Furthermore, the firm has highlighted its intention to promote transparency by making the ETH addresses of all ETHW holdings available, as it will enable any investor to confirm the fund’s holdings and transactions directly on the blockchain.

According to the firm’s Chief Information Officer, Matt Hougan, after Bitcoin was made available through an ETF version, over $17 billion in new capital entered into the crypto space in just a few months, driving BTC to a new peak.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: Hungary

Topics: ETHUSDT PBS Foundation Bitwise Bitcoin Exchange-Trade Funds Protocol Guild Ethereum Exchange-Trade Funds Bitcoin Hong Kim ETFs Btc Ethereum Ethereum Layer 1 Matt Hougan Ethusd ETH

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 19:30:18 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 456 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21755308

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 12 posts per day

Year Established: 2014

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News Last Updated: 12 hours ago

Coverage Areas: Hungary

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