KG😇 Please tell me about the Ethereum Foundation’s Ethereum sales. Grok📕 The Ethereum Foundation (EF) regularly sells ETH as part of its treasury management to secure operational funding—for research and development, grants, ecosystem support, and more. Primary reasons for sales: EF is a nonprofit organization with ETH as its primary asset, but it periodically sells ETH to cover operating expenses (Opex). According to its Treasury Policy published in June 2025: - Annual operating expenses are targeted at approximately 15% of total treasury holdings (with a future goal to reduce this to 5%). - EF maintains a cash buffer equivalent to 2.5 years of operating expenses. - When the buffer is depleted, EF sells ETH to replenish fiat assets. Sales are conducted primarily via **OTC (over-the-counter)** trades to minimize market impact, and details are disclosed post-trade on EF’s official X account for transparency. Recent major sales (2026): - May 2026: 10,000 ETH sold OTC to BitMine (@BitMNR) at an average price of $2,292.15 (~$23M). - April 2026: 10,000 ETH sold OTC to BitMine at an average price of $2,387 (~$23.9M). - March 2026: 5,000 ETH sold OTC to BitMine at an average price of $2,043 (~$10.2M). This brings total ETH sold in 2026 alone to over 20,000 ETH (hundreds of millions of dollars). However, EF still holds approximately **92,500 ETH (liquid treasury)** and **70,000 ETH (staked)**. Past large-scale sales have occurred (e.g., 100,600 ETH in 2020), but price impacts have been temporary and influenced more by broader market supply/demand and external factors. On average, price movements one week after a sale have been minimal (~+1.3%). Important context and background: - Sales are executed from EF’s Safe multisig wallet, with transactions publicly recorded. - EF is actively reducing reliance on sales by advancing staking goals (target: 70,000 ETH) and increasing DeFi utilization. - While some in the community view these sales as “dumps,” EF frames them as a strategic measure for long-term sustainability. OTC sales to firms like BitMine help mitigate direct market impact. For full details, refer to EF’s official blog Treasury Policy or their X account (@ethereumfndn). These sales support Ethereum’s development and are not a negative signal about the project itself. For the latest updates, we recommend monitoring on-chain data (e.g., Arkham) and official announcements. Feel free to ask any follow-up questions!