Ethereum Foundation sells 10,000 ETH to secure $430 million… to be used for R&D, grants, and donations

The Ethereum Foundation (EF) said it sold 10,000 Ether (ETH) worth about $430 million and will use the funds to support the ecosystem through research and development (R&D), grants, and donations. The foundation formalized the sale on X (formerly Twitter) on the 2nd local time, explaining that it will conduct the sale over several weeks in multiple tranches via centralized exchanges.

This decision follows the foundation's financial management policy announced last June. The policy reviews the volatility of the foundation's assets each quarter and determines the amount of Ether to be sold over the next three months. The aim is to secure operating funds stably while minimizing market impact.

Since implementing the policy, the foundation has already sold about $25 million worth of Ether to SharpLink Gaming and separately disposed of a total of 2,795 ETH (about $12.7 million) in two transactions. These sales are being made to support the foundation's ongoing operations and to raise R&D funds.

The Ethereum Foundation has a precedent of making large-scale sales in the past. In particular, in December 2020 it sold 100,000 ETH, which is considered one of the important factors that contributed to Ethereum's price reaching all-time highs in the following months.