The Ethereum Foundation (EF) has announced that it will sell approximately $43 million worth of Ethereum again as part of funding for ecosystem-related research and development, grants, and donations.
In a post on X on Tuesday, the foundation stated that it plans to convert 10,000 Ethereum (ETH) through centralized exchanges "within a few weeks." The organization indicated that the conversion aimed at funding its work "will be conducted through multiple smaller orders rather than a single large transaction."
This sale follows the foundation's temporary suspension of open grant applications on Friday, which is part of its efforts to reform its grant process. As of the first quarter of 2025, EF stated that it has distributed over $32 million in grants, including community and educational funding.
The foundation supporting the Ethereum blockchain released a treasury policy in June, which outlined the considerations for ETH sales. Specifically, EF stated that it would "regularly calculate the deviation of treasury fiat-denominated assets […] and determine how much Ethereum (if any) will be sold in the next three months."
Since announcing the treasury policy, the foundation has sold approximately $25 million worth of Ethereum to SharpLink Gaming and has sold 2,795 ETH in two transactions, valued at about $12.7 million. EF's most significant sale of 100,000 ETH in December 2020 may have contributed to the price soaring to an all-time high within months.
As of the time of publication, according to Nansen data, the price of ETH is $4,326, having risen over 23% in the past 30 days.
In addition to EF's initiative, the Yunfeng Financial Group disclosed on Tuesday that it has purchased 10,000 ETH "in the open market." This investment appears to be unrelated to the foundation's sale.
Ether Machine also reported that as part of establishing an Ethereum treasury plan ahead of its anticipated Nasdaq listing, the company has acquired 150,000 ETH on Tuesday. After the transaction, the company will hold over 345,000 ETH, valued at approximately $1.5 billion.
Ethereum co-founder Joseph Lubin speculated over the weekend that Wall Street's adoption of ETH could lead the token to surpass Bitcoin (BTC) as the "monetary base." The token reached an all-time high of over $4,870 in August, when comments from Federal Reserve Chairman Jerome Powell hinted at "adjustments to [U.S.] interest rate policy stance."
Related: Analysts say Ethereum (ETH) may see the "largest short trap" this month.
Original article: “Ethereum Foundation to Sell 10,000 ETH for Research, Grants, and Donations”
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