Bitwise launches its spot Ether ETF, pledging 10% of profits to Ethereum developers via Protocol Guild and PBS Foundation.
As the spot Ether exchange-traded funds (ETFs) are about to see their first day of trading, asset manager Bitwise pledged to donate 10% of its profits to Ethereum developers.
On July 22, the United States Securities and Exchange Commission (SEC) approved the final S-1 statements required to launch the spot Ether (ETH) ETFs on stock exchanges. This includes Nasdaq, the Chicago Board Options Exchange and the New York Stock Exchange (NYSE).
As it debuts its ETF on the NYSE, Bitwise said that 10% of all its profits from the Bitwise Ethereum ETF (ETHW) will go to two Ethereum-focused organizations.
