Vitalik Buterin, the co-founder of Ethereum, has sold a significant portion of his ETH holdings, raising over $14 million for charitable causes. According to on-chain data tracked by Lookonchain, Buterin liquidated approximately 6,900 to 9,872 ETH over several days, with the total value estimated between $13 million and $14.15 million.
The sales were executed strategically using the CoW Swap protocol (part of the CoW Protocol/Gnosis ecosystem) to conduct transactions in smaller batches. This method was designed to minimize slippage and market impact. The average sale prices reportedly ranged from $2,052 to $2,238 per ETH.
Buterin's actions are explicitly linked to his philanthropic goals. He stated the funds are intended to support biotechnology and open-source projects, including the biotech charity Kanro. This sale represents about 42% of a planned liquidation of 16,384 ETH. The remaining ETH has reportedly been deposited into the Aave lending protocol, alleviating concerns of a direct market dump.
Market analysts observed minimal disruption from the sales. Ethereum's price remained stable, trading within the $1,900 to $2,000 range, demonstrating the market's high liquidity and ability to absorb large transactions. Alex Thorn, Head of Firmwide Research at Galaxy Digital, noted, "Founder sales often draw scrutiny, especially when there's a significant amount at stake, as seen in recent on-chain transactions."
Historically, Buterin has periodically liquidated ETH holdings to fund initiatives, reflecting a consistent trend of using his assets for philanthropy and project support rather than for personal profit-taking or market speculation. No regulatory actions or new policies are linked to these transactions.
