The Ethereum Foundation has announced plans to sell 10,000 ETH, valued at approximately $43 million, through centralized exchanges over the coming weeks. The sale is part of the Foundation's ongoing efforts to fund research and development, ecosystem grants, and donations within the Ethereum network.
The Foundation emphasized that the conversions will occur through multiple smaller orders rather than a single large transaction, a strategy designed to minimize market disruption. This approach follows the Foundation's new treasury policy announced in June, which caps annual operational spending at 15%, establishes a multi-year reserve buffer, and sets a gradual pace toward leaner long-term spending.
This sale follows a previous transaction in July where the Foundation sold an additional 10,000 ETH to SharpLink Gaming, marking the first time a publicly traded company purchased ETH directly from a key ecosystem firm. The announcement comes as ETH reached an all-time high of $4,866 in late August, with the token trading around $4,330 at the time of the announcement.
Historical patterns suggest that while such sales can prompt short-term market sentiment shifts, the Foundation's careful treasury management has typically helped stabilize liquidity. The funding from this sale is designated for critical ecosystem developments that could ultimately strengthen Ethereum's long-term position.