According to BlockBeats, Bitwise has announced that it will donate 10% of the profits from its spot Ethereum ETF to support open-source developers working on the Ethereum network. This initiative aims to foster innovation and development within the Ethereum ecosystem by providing financial support to those contributing to its growth and sustainability. The announcement was made on July 23, highlighting Bitwise's commitment to the advancement of blockchain technology and the Ethereum community. By allocating a portion of its profits to developers, Bitwise seeks to encourage further advancements and improvements in the Ethereum platform, ensuring its continued evolution and success.