Crypto asset manager Bitwise has announced a significant donation of $233,000 to support open-source Bitcoin developers, funded directly from the gross profits of its spot Bitcoin ETF (BITB). This marks the firm's second annual contribution, bringing its total donations since 2024 to over $383,000.
The funds, representing 10% of BITB's gross profits for its second year, will be channeled through three non-profit organizations: Brink, OpenSats, and the Human Rights Foundation's Bitcoin Development Fund. These groups are tasked with allocating the resources to developers who maintain and secure the Bitcoin network.
Bitwise's commitment stems from a pledge made around the launch of BITB in January 2024. The firm views investing in open-source infrastructure as analogous to a traditional financial institution investing in its own operational backbone. "Bitwise is proud to donate $233,000 to support the unsung heroes maintaining and securing the Bitcoin network," the company stated.
The donation implies that BITB generated approximately $2.33 million in gross profits in its second year. The ETF charges a 0.2% management fee on its assets, which currently stand at over $2.7 billion. Despite a broader market pullback in early 2026, BITB's assets have grown marginally from $2.17 billion to $2.21 billion in the first nine weeks of the year.
Bitwise co-founder Hong Kim emphasized the critical role of developers, noting the firm has extended a similar support model to the Ethereum network using profits from its Ethereum ETF. With over $15 billion in total assets under management, Bitwise positions these contributions as part of its philosophy to be a responsible steward of the cryptocurrency ecosystem.
