Bitwise Gives $233K in BTC ETF Profits to Open-Source Devs

What to Know

$233,000 — Bitwise donated Bitcoin ETF profits to three open-source developer organizations on March 5
$2.7 billion in assets under management backs Bitwise's spot Bitcoin ETF, BITB, which funds the annual contribution
$150,000 was donated in 2025 to the same three groups: Brink, OpenSats, and the Human Rights Foundation
7.5% — Bitcoin surged in the past 24 hours to trade near $73,210, though it remains 42% below its all-time high

Bitwise Asset Management has contributed $233,000 to three Bitcoin open-source developer organizations, marking the crypto asset manager's second annual gift funded by profits from its spot Bitcoin exchange-traded fund. The recipients — Brink, OpenSats, and the Human Rights Foundation's Bitcoin Development Fund — were chosen for their commitment to maintaining the protocol, according to the firm.

How Does Bitwise Fund Its Developer Donations?

The $233,000 contribution comes from the gross profits of BITB, Bitwise's spot Bitcoin ETF, which holds more than $2.7 billion in assets under management. The firm pledged to allocate 10% of the fund's annual gross profits to open-source Bitcoin development.

This year's gift represents a 55% increase over the $150,000 that the firm distributed to the same trio of organizations in 2025. The beneficiaries — Brink, OpenSats, and the Human Rights Foundation's Bitcoin Development Fund — fund independent contributors who write, review, and test the code underpinning Bitcoin's network.

Open-source developers are the unsung heroes of Bitcoin, donating their time to secure the network and uphold its integrity.
— Hong Kim, Co-Founder and CTO, Bitwise Asset Management

Why Bitwise Chose These Three Organizations

Bitwise co-founder and CTO Hong Kim told reporters the firm selected Brink, OpenSats, and the Human Rights Foundation because of their "deep-rooted commitment to the Bitcoin network and protocol." Kim added that as the industry expands, firms bear a responsibility to act as good stewards of the ecosystem.

"Just as any financial institution invests in its own internal infrastructure, we must invest in the independent developers who maintain, protect, and help the protocol evolve," Kim said in a statement. The asset management firm oversees $15 billion in total assets and offers more than 40 investment products, including altcoin ETFs for XRP, Solana, and Dogecoin.

Bitcoin Market Conditions and Price Outlook

Bitcoin has climbed more than 7.5% over the past 24 hours, recently changing hands near $73,210, according to market data. The leading digital asset has dropped roughly 42% from its October all-time high of $126,080, a drawdown that some market observers attribute to the historic four-year cycle.

Analysts at crypto research firm K33 wrote in a Wednesday note that Bitcoin is displaying relative stability despite the U.S.-Israel conflict with Iran, now in its fifth day, and concluded that the most severe selling pressure has likely subsided.

Not all market participants agree the traditional cycle will hold. In its 2026 forecast, Bitwise predicted Bitcoin would reach a new all-time high this year, arguing that cyclical drivers from prior cycles — interest rates, the Bitcoin halving, and leverage booms — would exert diminishing influence on price.

Broader Ecosystem Support

Beyond Bitcoin, Bitwise also channeled profits from its spot Ethereum ETF, ETHW, into donations supporting Ethereum open-source developers last year. The firm's expanding suite of crypto investment vehicles now spans more than 40 products, reflecting its commitment to funding the infrastructure underlying the digital asset ecosystem.