Investment firm Bitwise has allocated $150,000 to support open-source Bitcoin project developers through three non-profit organizations.
Bitwise Donation
Bitwise has fulfilled its promise to annually donate 10% of its gross profits from its ETF. In 2024, the firm earned $1.5 million from its Bitcoin ETF and allocated $150,000 to Brink, Open Sats, and the Human Rights Foundation to disperse among Bitcoin developers.
Role of Bitcoin ETF in Institutional Adoption
Bitcoin ETFs have significantly contributed to institutional adoption. According to recent data, by the end of 2024, the value of Bitcoin ETF assets disclosed in 13F filings reached $38.7 billion, a threefold increase from the previous quarter.
Future Bitcoin Predictions
Analysts predict growth in Bitcoin's value despite recent challenges. Institutional adoption and the introduction of ETFs are thought to help anchor Bitcoin further into the financial system. However, a significant price surge is not expected until mid-March 2025.
With the growth in institutional adoption and developer support, Bitcoin's prospects remain promising among experts.
