Bitwise, which launched its investment product today has revealed that 10% of Spot Ethereum ETF earnings will be given to ETH devs. The asset management firm released a press release Announcement that success in investment products would further assist the growth of second largest cryptocurrency.
Ether ETFs now officially available, after several months of uncertainty began trading on Tuesday. The US Securities and Exchange Commission approved the final S-1 form, allowing it to be launched on exchanges such as Nasdaq and Cboe.
You may also like: Bitcoin: Can Ethereum ETF Arrival Spur BTC to $70,000?
After the launch of ETH, Bitwise makes a massive pledge to developers.
Six months ago the SEC had approved the US’s first ETF based on crypto. It was an important moment for the crypto industry. The second one has now been launched with Ethereum. own exchange-traded product. A major issuer is committed to the growth of this industry.
Bitwise Spot Ethereum ETF announced it would give 10% of its profits to ETH Developers. In fact, proceeds from the ETF will go to the Protocol Guild that provides support for more than 170 Ethereum researchers. A portion of the proceeds will also go to PBS Foundation, which is a nonprofit. This pledge will help them. work In the decentralization of ecosystems.
You may also like: Ethereum: Is ETH a Lock for $4,000 After ETF Launch?
“Ethereum, as an open-source technology, is maintained by a dedicated community of open-source developers,” Hong Kim said that the Chief Technology Officer of the firm was Hong Kim. “Every investor in ETHW wants Ethereum to continue to advance, and this donation program contributes to that goal.”
This announcement is similar to one made by Bitwise earlier this year. Also, the firm committed to retaining 10% of profits generated by its Spot Bitcoin ETF. Those profits also contributed to the growth and development of BTC’s ecosystem. These acts not only help the crypto market to gain exposure and more investments, they also allow it to reach its full potential.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru