Bitwise to Donate 10% of Ethereum ETF Gains to Developers
In a move that's set to make waves in the Ethereum community, Bitwise, a leading asset manager, has announced that it will be donating 10% of its gains from trading Ethereum ETFs to developers of the network. This strategic move is aimed at supporting the continued growth and development of the Ethereum ecosystem.
According to Bitwise's Chief Technology Officer, Hong Kim, the donations will be split between two organizations: Protocol Guild and PBS Foundation. Protocol Guild focuses on supporting the development and research of Layer-1 solutions for Ethereum, while PBS Foundation is dedicated to researching Relays, which can help decentralize the network's block production process.
Kim emphasized that the goal of this initiative is to ensure that the value of Ethereum ETFs grows in the long term. By supporting open-source development, Bitwise aims to create a sustainable and thriving ecosystem that benefits all stakeholders.
The news comes as the US Ethereum ETFs have just begun trading, with a solid start that saw inflows of $108 million and a total trading volume of around $1 billion. This is a significant milestone for the ETFs, which are expected to play a key role in the growth of the Ethereum market.
Bitwise's Chief Investment Officer, Matt Hougan, has described Ethereum as a "growth-oriented technology stock," while Bitcoin is seen as a "monetary asset." This distinction highlights the company's long-term investment strategy, which focuses on the potential for Ethereum to continue growing and evolving as a technology.
For more Content check out our Blog: https://finixyta.com/web3-security-breach-lessons-from-the-recent-identity-data-theft-incident/
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FinixytaBitwise to Donate 10% of Ethereum ETF Gains to Developers
Personal Finance and Improvement Blog: https://finixyta.com/
Bitwise to Donate 10% of Ethereum ETF Gains to Developers
In a move that's set to make waves in the Ethereum community, Bitwise, a leading asset manager, has announced that it will be donating 10% of its gains from trading Ethereum ETFs to developers of the network. This strategic move is aimed at supporting the continued growth and development of the Ethereum ecosystem.
According to Bitwise's Chief Technology Officer, Hong Kim, the donations will be split between two organizations: Protocol Guild and PBS Foundation. Protocol Guild focuses on supporting the development and research of Layer-1 solutions for Ethereum, while PBS Foundation is dedicated to researching Relays, which can help decentralize the network's block production process.
Kim emphasized that the goal of this initiative is to ensure that the value of Ethereum ETFs grows in the long term. By supporting open-source development, Bitwise aims to create a sustainable and thriving ecosystem that benefits all stakeholders.
The news comes as the US Ethereum ETFs have just begun trading, with a solid start that saw inflows of $108 million and a total trading volume of around $1 billion. This is a significant milestone for the ETFs, which are expected to play a key role in the growth of the Ethereum market.
Bitwise's Chief Investment Officer, Matt Hougan, has described Ethereum as a "growth-oriented technology stock," while Bitcoin is seen as a "monetary asset." This distinction highlights the company's long-term investment strategy, which focuses on the potential for Ethereum to continue growing and evolving as a technology.
For more Content check out our Blog: https://finixyta.com/web3-security-breach-lessons-from-the-recent-identity-data-theft-incident/
Support Finixyta
FinixytaBitwise to Donate 10% of Ethereum ETF Gains to Developers
FinixytaUntitled post
Fed Whispers, ECB Echoes, and Bitcoin’s Low-Key Rebellion The past forty-eight hours have been an exercise in central-bank monotony—punctuated only by bond traders shrugging and crypto speculators holding their breath. If you tuned out after the Fed’s ritualistic pause on Thursday, here’s everything you actually need to know. The Fed held the federal-funds rate at 5.25–5.50%, citing “moderate further progress” on 3.1% core PCE. Translation: inflation is stubborn, but they’d rather stall than ...
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Personal Finance and Improvement Blog: https://finixyta.com/
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