Bitwise To Donate 10% Of Ethereum ETF Profits To Open-Source Developers
Portfolio Pulse from Murtuza Merchant
Bitwise Asset Management will donate 10% of profits from its Ethereum ETF (NYSE:ETHW) to support Ethereum's open-source development. The ETF will debut with a 0.20% management fee, waived for the first six months on the initial $500 million in assets. This initiative aims to advance Ethereum's technology and transparency.
July 23, 2024 | 12:03 pm
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Bitwise's Ethereum ETF (NYSE:ETHW) will donate 10% of its profits to support Ethereum's open-source development. The ETF debuts with a 0.20% management fee, waived for the first six months on the initial $500 million in assets.
The donation initiative and fee waiver are likely to attract positive investor sentiment, potentially driving short-term price appreciation for ETHW. The transparency measures also add to investor confidence.
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