Ethereum Foundation to Sell $34M in ETH for Ecosystem Building

The ETF’s announcement was made as other players are increasing exposure: Yunfeng Financial Group bought 10,000 ETH, and Ether Machine secured 150,000 ETH ahead of a Nasdaq listing. Meanwhile, BitMine Immersion Technologies is the largest corporate ETH holder with close to 1.9 million ETH, which is valued at more than $8.1 billion, alongside $635 million in cash and Bitcoin ￰0￱ news boosted BitMine’s stock, which has gained over 40% in the past ￰1￱ Invest also expanded its stake in the company and chairman Tom Lee recently reiterated his bullish views on Ethereum’s long-term ￰2￱ Foundation to Trim Holdings Again The Ethereum Foundation (EF) revealed plans to sell roughly $43 million worth of Ethereum (ETH) as part of its strategy to fund ecosystem growth, research, development, and ￰3￱ a post on X , the foundation said it will convert 10,000 ETH, which was valued at around $4,342 per token at the time of the announcement, using centralized exchanges over several ￰4￱ clarified that the sale would be executed through multiple smaller orders rather than a single large transaction to limit any potential market ￰5￱ move was announced shortly after EF temporarily paused its open grant applications to revamp the ￰6￱ the first quarter of 2025, the foundation already distributed over $32 million in grants, with allocations spanning education, community initiatives, and ￰7￱ group also implemented a treasury policy in June that outlined its approach to Ethereum sales, including periodic evaluations of fiat reserves and calculated decisions on how much ETH should be sold in a given ￰8￱ then, EF has sold about $25 million in Ethereum to SharpLink Gaming and conducted additional sales totaling $12.7 million across two separate ￰9￱ foundation’s history of ETH sales includes a big December 2020 liquidation of 100,000 ETH, which coincided with Ethereum’s run to new all-time highs in the following ￰10￱ EF is trimming its holdings to sustain its operations, other players are making moves in the opposite ￰11￱ Financial Group disclosed that it bought 10,000 ETH in the open market on the same day, while Ether Machine announced it secured 150,000 ETH to build a corporate treasury ahead of a planned Nasdaq ￰12￱ Machine’s total ETH holdings now includes more than 345,000 tokens, valued at around $1.5 billion.

Meanwhile, bullish sentiment around Ethereum is also ￰13￱ co-founder Joseph Lubin suggested that Wall Street’s adoption of staking and decentralized infrastructure could push ETH to surpass Bitcoin as a monetary base. Additionally, after hints from Federal Reserve Chair Jerome Powell about adjusting US interest rate policy, ETH surged more than 23% in the last month, and was trading hands at $4,334 at the time of writing. ETH’s price action over the past month () BitMine Reveals $8B Ethereum Treasury BitMine Immersion Technologies turned itself into the largest corporate holder of Ethereum, with a treasury totaling nearly 1.9 million ETH, worth over $8.1 billion at current market ￰14￱ Bitcoin mining company, which now also runs an ETH treasury, disclosed on Tuesday that it holds 1,866,974 ETH, alongside 192 Bitcoin and more than $635 million in unencumbered ￰15￱ treasury holdings growth () Altogether, BitMine’s capital amounts to roughly $8.98 billion, giving it a commanding lead over other corporate Ethereum ￰16￱ to data from the Strategic ETH Reserve , the second-largest corporate treasury is SharpLink Gaming, which currently holds around 837.23K ETH, worth approximately $3.64 ￰17￱ ETH reserve companies () The market reacted positively to BitMine’s announcement, with shares trading at $44.13 after a 1.12% increase on the day, according to Google ￰18￱ company’s stock also surged by close to 41% in the past month, climbing from $31.13 on ￰19￱ strong performance comes on the back of aggressive treasury-building by the ￰20￱ in August, BitMine added 373,000 ETH to its holdings in just one week, even as its shares dipped by more than 14% during that period.

BitMine’s momentum also attracted the attention of major institutional ￰21￱ Wood’s ARK Invest added another $15.6 million worth of BitMine shares last month, bringing its total investment in the company to more than $300 million. Fundstrat’s Tom Lee, who also serves as BitMine’s chairman, said in late August that Ethereum’s price was approaching a bottom, even though the token slipped about 2.5% since then.