The Ethereum Foundation has revealed plans to convert 10,000 ETH, worth around $43 million, through centralized exchanges over the coming weeks. Rather than executing a single large transaction, the foundation will spread sales across multiple smaller orders, a move designed to limit market disruption. The proceeds will be allocated to research, grants, donations, and broader development efforts supporting the Ethereum ecosystem.
This latest conversion reflects the foundation’s treasury policy, introduced in June, which emphasizes periodic evaluations of fiat-denominated reserves to determine quarterly ETH sales. Since adopting the framework, the foundation has sold approximately $25 million worth of ETH to SharpLink Gaming and 2,795 ETH valued at $12.7 million across two transactions. These sales underscore the foundation’s commitment to balancing operational funding with market stability.
SharpLink Gaming, a Minnesota-based Ethereum treasury firm chaired by Ethereum co-founder and Consensys CEO Joseph Lubin, has emerged as a significant counterparty in these sales. The firm recently purchased 39,008 ETH at an average price of $4,531, raising its total holdings to 837,230 ETH, worth close to $3.6 billion. Backed by a $425 million private investment round, SharpLink retains over $71.6 million in cash reserves for future acquisitions, positioning itself as a long-term buyer in Ethereum’s market.
A mature and disciplined treasury strategy
Historically, Ethereum Foundation sales have coincided with notable market movements, such as the 100,000 ETH sale in December 2020 that preceded a rally to then record highs. However, the current sale of 10,000 ETH represents a measured approach, highlighting a maturing treasury strategy that prioritizes sustainable funding rather than speculative timing.
By adopting systematic ETH conversions, the Ethereum Foundation demonstrates a disciplined model of treasury management. This ensures consistent funding for critical ecosystem development while mitigating potential volatility, reinforcing Ethereum’s position as a cornerstone of blockchain innovation.