A $100K Donation Sparks Hope for Open-Source Innovation

Picture this: While most of us were busy tracking ETH prices and dreaming of the next bull run, something remarkable was happening behind the scenes. Bitwise, one of crypto's heavyweight players, just dropped a cool $100,000 to support the real MVPs of the Ethereum ecosystem - the open-source developers who make the magic happen.

The Gift That Keeps on Giving

This isn't just a one-time show of support. Here's where it gets interesting: When Bitwise rolls out their Ethereum ETF (ETHW) in July 2024, they're promising to channel 10% of their gross profits back into the Ethereum ecosystem. Every. Single. Year. Talk about putting your money where your mouth is!

Double Impact: Two Projects, One Mission

The $100K isn't just disappearing into the crypto void. The funds are being split between two nonprofit powerhouses: - Protocol Guild: Supporting the brilliant minds behind Ethereum's core development - PBS Foundation: Pushing the boundaries of blockchain infrastructure

Building a Legacy of Support

Bitwise isn't new to this game of giving. Before this Ethereum-focused donation, they already showed their commitment to the broader crypto ecosystem by dropping $150,000 to support Bitcoin's open-source developers. This latest move? It's just their first donation for 2024, with presumably more to come.

The future of Web3 isn't just about market caps and trading volumes - it's about supporting the developers who work tirelessly behind the scenes. With major players like Bitwise stepping up to the plate, we might be witnessing the beginning of a new era where open-source development gets the recognition (and funding) it truly deserves.

Remember: The next time you execute a flawless smart contract or marvel at Ethereum's efficiency, there's a dedicated team of developers to thank - and now, thanks to Bitwise, they're getting some well-deserved support to keep innovating.