Bitwise has iterated its commitment to donating 10% of the profits generated by its Bitcoin Spot ETF (BITB) to support the open-source development of Bitcoin.

The beneficiaries of these contributions include Brink, OpenSats, and the Human Rights Foundation.

The company emphasises that these donations are unconditional and will be a recurring annual commitment for a minimum of the next ten years.

This move follows a similar announcement made on January 6 by VanEck, stating its intention to donate 5% of the profits from the Bitcoin Spot ETF to Bitcoin developers.

A Long Road

Bitwise, which initiated the filing for a spot bitcoin ETF five years ago, views the establishment of its ETF today as a significant milestone that is not taken lightly.

The company highlights the collective benefit that all Bitcoin investors gain from the ongoing open-source efforts.

Acknowledging the financial challenges faced by individual investors in supporting this work, Bitwise aims to bridge the gap with its recurring donations from the profits of $BITB, creating a strong alignment between investors and the robustness of the underlying open-source infrastructure.

Paying it Forward

Bitwise has initiated the support with an initial donation of $10,000 and a signed commitment.

If the spot ETF is approved, 5% of the profits will be consistently directed towards Brink, the Bitcoin Core developer organization, for a minimum period of ten years.