PANews reported on February 19 that asset management company Bitwise announced that it would donate $100,000 to support Ethereum's open source developers. Since Bitwise launched the Ethereum ETF ($ETHW) in July 2024, Bitwise has pledged to give back 10% of ETHW's gross profit to the Ethereum ecosystem each year. Today, Bitwise completed its first annual donation in 2024.

The funds will be donated to two prominent nonprofit organizations, the Protocol Guild and the PBS Foundation, whose missions are to support research and development of the Ethereum protocol and to help develop and maintain the open-source Ethereum infrastructure, respectively.