The Block Crypto News9 minutes ago

Published on July 23, 2024 10:25 GMT+00:00edited on July 23, 2024 10:31 GMT+00:00

Bitwise’s ETHW is among several spot Ethereum exchange-traded funds set to begin trading in the U.S. on Tuesday, with the crypto asset manager announcing that 10% of profits from the ETF will be donated to Ethereum developers.

The donations will be split between two organizations, according to a statement: Protocol Guild and PBS Foundation. Protocol Guild is a grassroots funding organization that supports over 170 core contributors dedicated to research and development of Ethereum. PBS Foundation is a non-profit organization that funds open-source Ethereum block relays and associated research.

“Ethereum, as an open-source technology, is maintained by a dedicated community of open-source developers,” Bitwise Chief Technology Officer Hong Kim said. “Every investor in ETHW wants Ethereum …