The Ethereum Foundation (EF) – a non-profit organization that supports the second-largest blockchain protocol – disclosed that its treasury equals around .6 billion. .3 billion of it is distributed in digital assets (primarily ETH), while approximately 0 million belong to non-crypto investments. The EF Sold ETH at the ATH In its financial report, the Ethereum Foundation revealed that 99.1% of its total .3 billion crypto holdings are held in ETH. This amount was 0.297% of the entire ETH supply by the end of March 2022, the entity added. The EF said it believes in Ethereum’s potential, and these possessions represent that long-term perspective. EF Treasury, Source: Financial ReportDespite being a strong proponent of Ether, the organization sold a portion of its
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The Ethereum Foundation (EF) – a non-profit organization that supports the second-largest blockchain protocol – disclosed that its treasury equals around $1.6 billion. $1.3 billion of it is distributed in digital assets (primarily ETH), while approximately $300 million belong to non-crypto investments.
The EF Sold ETH at the ATH
In its financial report, the Ethereum Foundation revealed that 99.1% of its total $1.3 billion crypto holdings are held in ETH. This amount was 0.297% of the entire ETH supply by the end of March 2022, the entity added. The EF said it believes in Ethereum’s potential, and these possessions represent that long-term perspective.
Despite being a strong proponent of Ether, the organization sold a portion of its digital asset holdings when ETH was near its all-time high. The asset hit its record price in November 2021 when it topped nearly $4,900.
On another note, the organization informed it started increasing its non-crypto savings. The move could provide a greater safety margin for the EF’s core budget and enable it to “continue funding non-core but high leverage projects through a market downturn.”
The report also outlined how the EF managed its spending throughout 2021. The entity spent around $48 million last year as $20 million was in the form of external spending, including grants, third party funding, bounties, sponsorships, and delegated domain allocations. The remaining $28 million was distributed to the EF community’s teams and projects.
The Ethereum Foundation is a part of a larger community of entities and individuals that support the Ethereum ecosystem. All of these fund the protocol’s development, grow the community, and stand as keen advocates of the blockchain protocol.
Previous Times When the EF Sold its ETH Holdings
It is worth noting that in 2017 the foundation sold 70,000 ETH. Interestingly, the decision was prompted by Vitalik Buterin – Co-Founder of Ethereum:
“I did get the Ethereum Foundation to sell 70,000 ETH like basically at the top, and that’s doubled our runway now, so it was one good decision that had a lot of impact.”
In May 2021, Ether surged to a new ATH of around $4,000. Then the EF sold 35,000 ETH from its possessions.
The last sale occurred in November last year – one day after the all-time high of nearly $4,900. Back then, the organization sent a massive 20,000 batch of ETH to Kraken’s exchange in a transaction worth nearly $100 million.