Of the 11 financial institutions that issued spot Bitcoin ETFs in January 2024, only two — Bitwise and VanEck — have pledged to donate a percentage of their profits to open-source Bitcoin development.

Regardless of whether large holders are harassing ETF sponsors for funding core dev, the real question is – why are only @BitwiseInvest and @vaneck_us doing so? Bitcoin is an ongoing project and core dev continues to be underfunded

— nic "bankful" carter (@nic__carter) April 10, 2024

In considering the logic behind Bitwise and VanEck’s decision to donate to developers who maintain and update the Bitcoin protocol, it’s difficult to imagine why more spot Bitcoin ETF issuers haven’t…

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