PANews reported on July 23 that cryptocurrency asset manager and index provider Bitwise announced the launch of ETHW - Bitwise Ethereum ETF. The fund directly invests in Ethereum (ETH) with a management fee of 0.20%, which is waived for the first six months or the first $500 million investment phase. 10% of the fund's profits will be donated to Ethereum open source developers. To ensure transparency, the fund's Ethereum address will be public. The fund was created by a team of cryptocurrency experts.