Gate News message, April 24 — The Ethereum Foundation sold 10,000 ETH at an average price of $2,387 per token in an over-the-counter deal with a major digital asset treasury on Friday, generating approximately $23.87 million to fund core operations and development.
The foundation said the proceeds will support protocol research and development, ecosystem development, community grant funding, and other activities. The buyer, which holds 4,976,485 ETH (equivalent to 4.12% of ether’s total supply), added to its stockpile following the purchase. Earlier this week, the buyer announced it had acquired an additional 101,627 ETH.
The Ethereum Foundation has faced recurring scrutiny over ETH sales to cover operational costs. In response, it unveiled plans last year to limit such sales by deploying capital in DeFi protocols and staking ETH to generate income. The foundation seeded its DeFi Ecosystem wallet with 50,000 ETH in January 2025. This latest sale follows the foundation’s conversion of approximately $11 million worth of ether to stablecoins last month for research, development, and grant programs.
ETH traded at $2,315.26 as of 11:34 a.m. ET on Friday, down about 1% on the day.
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