Ethereum Foundation to Convert 10,000 ETH on Exchanges for Research, Grants, Donations
According to on-chain analyst Yujin, the Ethereum Foundation plans to sell 10,000 ETH via centralized exchanges in September to fund research, grants, and donations, continuing its structured funding strategy.
The Ethereum Foundation confirmed in an official statement that it will sell 10,000 ETH gradually over the coming weeks through centralized exchanges, with proceeds allocated to research, grants, and donations. On-chain analyst Yujin reported that about 10 minutes before the announcement, 10,000 ETH worth approximately $42.7 million was transferred to Kraken. This move follows a prior sale on July 11, when the foundation sold 10,000 ETH via OTC to SharpLink at $2,572 per ETH for about $25.73 million. The sales align with the foundation’s cost-control policy, which caps annual operating expenses at 15% and reduces long-term budgets.
- ETH (Ether): The native cryptocurrency of the Ethereum network, used for transactions, gas fees, and value transfer.
- Ethereum Foundation: A nonprofit organization that supports Ethereum’s research, development, and ecosystem initiatives.
- Centralized Exchange (CEX): A cryptocurrency trading platform operated by a centralized entity where users trade digital assets under custodial management.