Ethereum co-founder Vitalik Buterin has sold a total of 704.84 ETH, worth approximately $1.63 million, in a series of on-chain transactions tracked by blockchain analytics platforms Lookonchain and Onchainlens. The sales, which included batches of 211.84 ETH and 493 ETH, were executed to fund long-term initiatives rather than being a market-driven liquidation.
The proceeds from an initial sale of 211.84 ETH for about 500,000 USDC were transferred to Kanro, a philanthropic entity established by Buterin that supports research into combating infectious diseases. This aligns with his track record of directing crypto sales to charitable causes, such as a January 2025 sale of meme coins worth ~$984,000 also sent to Kanro.
Buterin preemptively addressed the sales in a post on X, stating he had withdrawn 16,384 ETH to be deployed toward long-term goals over the next few years. He framed this as part of a "period of mild austerity" for the Ethereum Foundation, with him personally taking on responsibilities. The funds are intended to support the development of open-source, secure software and hardware across finance, communications, governance, operating systems, secure hardware, and biotech, including public health.
"The Ethereum Foundation will continue with a steadfast focus on developing Ethereum... 'Ethereum everywhere' is nice, but the primary priority is 'Ethereum for people who need it,'" Buterin added, emphasizing goals of self-sovereignty and infrastructure for cooperation.
Despite the sales, Buterin's remaining holdings are substantial. Arkham data shows he still holds 235,268 ETH worth approximately $549.2 million, with his overall portfolio valued at over $569 million. The transactions had no discernible negative impact on Ethereum's market price, with ETH gaining about 5% in the 24 hours following the news and trading around $2,312.6. Analysts note the sales represent a minuscule fraction of Ethereum's circulating supply and daily trading volume, easily absorbed by market liquidity.
