Big news for Ethereum! Investment company Bitwise is going to donate a chunk of their profits from their new Ethereum ETF (exchange-traded fund) to the Ethereum developers.
Sharing the Wealth
Bitwise’s new Ethereum ETF, called ETHW, started trading on the New York Stock Exchange this week. They’ve pledged to donate 10% of the profits from ETHW to two organizations:
- Protocol Guild: This group supports over 170 developers who work on the core Ethereum code.
- PBS Foundation: This non-profit funds research and development for Ethereum block relays.
Investing in the Future
Bitwise’s Chief Technology Officer, Hong Kim, says this donation is all about supporting Ethereum’s growth. He explains that Ethereum is built by a dedicated community of developers, and this donation helps them keep innovating.
Ethereum vs. Bitcoin
Bitwise’s CIO, Matt Hougan, highlights the key difference between Ethereum and Bitcoin:
- Bitcoin: More like a digital gold, a store of value.
- Ethereum: More like a tech stock, powering the future of finance with things like DeFi (decentralized finance), NFTs (non-fungible tokens), and stablecoins.
Investing in Ethereum’s Potential
Bitwise believes their ETHW ETF gives investors a great way to get involved in the exciting potential of Ethereum.
Disclaimer: This information is for general knowledge and not financial advice. Do your own research before making any investment decisions. /p>
