The Ethereum Foundation (EF) has declared yet another sale valued at approximately $43 million in Ether to support initiatives in research and development, grants, and contributions pertinent to the ecosystem.
In a post on X this Tuesday, the foundation indicated its intention to exchange 10,000 Ether (ETH) through centralized exchanges “over the span of several weeks.” The organization stated that this conversion aimed at funding its operations “will occur through multiple smaller transactions, instead of a single substantial one.”
The foundation, which backs the Ethereum blockchain, published a treasury policy in June, outlining considerations for ETH transactions. Specifically, EF asserted it would “regularly assess the variation of the treasury’s fiat-denominated assets […] and ascertain how much, if any, Ether may be liquidated in the forthcoming three months.”
Since the release of the treasury policy, the foundation has disposed of roughly $25 million in Ether to SharpLink Gaming, alongside 2,795 ETH valued at about $12.7 million in two separate transactions. One of EF’s most notable sales of 100,000 ETH in December 2020 may have played a role in the price soaring to then unprecedented heights over several months.
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This is an evolving story, and additional details will be provided as they become available.