Bitwise Asset Management announced it will allocate 10% of the profits from its spot Ethereum ETF to support open-source Ethereum development. The funds will be donated to Protocol Guild and PBS Foundation, aiding Ethereum's security, scalability, and usability.

This initiative, set to continue for at least the next decade, reflects Bitwise’s commitment to fostering innovation in the Ethereum network. Previously, Bitwise pledged a similar contribution from its spot Bitcoin ETF profits. The announcement coincides with the SEC's approval of spot Ethereum ETFs, enhancing institutional adoption and investor access.