The Ethereum Foundation has transferred another $32 million worth of Ether (ETH) to a treasury wallet in just three weeks. On-chain data confirms the Foundation moved 1,000 ETH daily from June 10 to July 1, totaling 13,000 ETH—one of its fastest sell cycles in recent years.
Pacing Picks Up as Ethereum Transfers Outpace Past Years
The Foundation has long funded operations by selling ETH. In 2022 and 2023, it sold about 15,000–20,000 ETH annually. Moving 13,000 ETH in under a month now shows a faster drawdown than its historical pace.
Blockchain trackers show the ETH was sent to a Gnosis Safe multisig wallet, a standard security measure. Treasury reports confirm these funds usually reach fiat through regulated OTC desks, not open market dumps.
Despite the fresh outflows, the Foundation still holds an estimated 94,000–97,000 ETH and around $120–130 million in fiat and stablecoins. This brings its total treasury near $250–$300 million at current prices.
In supply terms, the Foundation controls less than 0.1% of Ethereum’s circulating supply of about 120 million ETH.
Some community members say the Foundation could stake its ETH instead of selling it outright. Current yields average 3%–4%, which could generate $7–10 million per year in passive income if the entire treasury were staked.
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In January, employee Josh Stark called these sales “actively using ETH,” but critics say the explanation sounds outdated given the rise of DeFi and staking tools.
Buterin Says Neutrality and Regulation Are Still Factors
Ethereum co-founder Vitalik Buterin defended the sales in April 2025, arguing that large-scale staking could complicate governance if forks occur. He also cited legal uncertainty around whether staked ETH could be viewed as a security.
Buterin said these concerns have eased somewhat. In February, the Foundation began testing DeFi lending with $120 million deployed to Aave, Spark, and Compound. It also borrowed $2 million in GHO stablecoin to expand its yield options.
In June, the Foundation adopted its first formal Treasury Policy, capping the annual operating budget at 15% of assets and targeting a 2.5-year funding buffer. The plan aims to reduce spending dependence to 5% of reserves over five years.
The next quarterly treasury report is due September 2025, giving the community a clearer look at how these funds move.
The Foundation’s ETH sales fund developer grants, research, legal needs, and ecosystem events. In 2024, it contributed to EIP-4844 proto-danksharding work and supported the Tornado Cash legal defense, a key privacy battle within crypto circles.
At press time, Ethereum price is hovering near $2,445, sitting around its 20-day and 200-day exponential moving averages at about $2,461 and $2,469, respectively.
