- The Ethereum Foundation sold 10,000 ETH to BitMiner in an over-the-counter transaction for approximately $24 million.
- This move is similar to the similar sell-off in March, indicating that the treasury strategy is still ongoing.
- The foundation has retained over 92,000 ETH while continuing its funding and security efforts.
The Ethereum Foundation quietly and cautiously conducted another treasury asset sale, offloading 10,000 ETH. Through an over-the-counter trade with BitMine, the foundation received nearly $24 million in funding. This transaction significantly boosted the foundation’s operational capital, though it was not entirely unexpected given current conditions. According to Wu Blockchain, the ETH were sold at an average price of $2,387, and shortly after, the foundation itself confirmed the trade. Confirmed that BitMine was the counterparty and that the transaction has been completed.
Familiar strategies, not one-time attempts
This transaction, amounting to approximately $23.9 million, aligns perfectly with a recurring pattern. Underlying activity has recently been quietly following suit rather than making sudden moves. Back in March, it conducted a similar over-the-counter transaction, selling 5,000 ETH to BitMine to support development efforts and broader ecosystem initiatives. Thus, this April transaction feels more like a continuation of a financing strategy—almost routine—that relies on selective ETH sales rather than large-scale liquidations.
Transparency and the Treasury's position remain solid.
Interestingly, the foundation also revealed that the on-chain transfers originated from a specific EF Safe multisig wallet, adding a layer of transparency uncommon in similar transactions. Even after the sale, the foundation still holds... significant ETH reserves, estimated at approximately 92,538 ETH, valued at around $214 million. Some of this ETH has been staked, indicating that the foundation is not idle but actively managing its treasury while maintaining a strong on-chain presence.
Beyond funds: Security efforts continue.
This treasury operation comes one week after a significant independent security investigation, supported by the Ethereum Foundation, was revealed. Naked approximately 100 North Korean IT professionals used fake identities to participate in over 50 cryptocurrency and Web3 projects, which is frankly concerning. The operation reportedly helped recover or freeze over $5.8 million in funds and uncovered hundreds of vulnerabilities, indicating that the Foundation’s role extends far beyond funding—it is deeply involved in securing the ecosystem.
Take a more comprehensive look at cryptocurrency fund management
From a broader perspective, this transaction underscores the importance of major cryptocurrencies to institutions. In 2026, institutions are working to rebalance their balance sheets, and this is not always driven by price movements or market hype. Such treasury sales, particularly over-the-counter, allow institutions to fund operations without directly impacting foreign exchange markets—a more prudent approach in many ways. It also reminds us that, behind the scenes, there is always a delicate balance between maintaining reserves and ensuring sufficient liquidity to keep operations running smoothly.