- Ethereum Foundation successfully transferred 10,000 ETH valued at $23.16 million via OTC sale.
- The transaction was executed from the official EF Safe multisig wallet on April 24, 2026.
- Buyer/counterparty: BitMNR (Bitmine) – listed on NYSE.
- Average execution price: ≈ $2,316 per ETH.
- Purpose: Funding core protocol development, research, grants, and ecosystem growth.
The Ethereum Foundation (EF) has announced the completion of an over-the-counter (OTC) sale of 10,000 ETH at an average price of $2,387 per ETH, generating approximately $23.16 million in proceeds. The buyer was BitMNR (Bitmine), a corporate counterparty listed on the NYSE.
The transaction was disclosed today via the official channel. This marks another step in the Foundation’s ongoing treasury management strategy, designed to support long-term operations without disrupting the broader Ethereum market.
Details of the Sale
- Amount: 10,000 ETH
- Average Price: $2,387
- Total Value: ~$23.16 million
- Method: OTC (to minimize market impact)
- Counterparty: BitMNR
- Funding Source: EF’s Safe multisig wallet: 0x9fC3dc011b461664c835F2527fffb1169b3C213e (onchain transfer expected shortly)
The EF emphasized that the sale aligns with its published Treasury Policy (June 4, 2025), which calls for periodic, structured ETH sales to maintain an appropriate fiat-denominated operating buffer while keeping most reserves in ETH.
Why the Sale? Funding Ethereum’s FutureThe proceeds will directly support the EF’s core activities, including:
- Protocol research and development (R&D)
- Ecosystem development
- Community grant funding
- General operations
According to the policy, the EF calculates sales based on deviations from its target “Opex Buffer” — currently set at 2.5 years of operating expenses (with annual opex targeted at 15% of treasury value initially, gliding down to a 5% endowment-style baseline over five years). ETH remains the Foundation’s primary long-term asset, with portions deployed into staking and DeFi for yield generation.
This is not an isolated event. The EF has conducted similar sales in recent months, including a 5,000 ETH OTC sale to BitMNR in March 2026 at ~$2,043 per ETH. The organization has also been actively staking ETH (recently hitting its 70,000 ETH staking target) and exploring on-chain yield opportunities to reduce reliance on outright sales.
Looking Ahead
The Ethereum Foundation continues to position itself as a long-term steward of the protocol while gradually narrowing its operational scope and improving capital efficiency. Quarterly and annual transparency reports will provide further visibility into treasury allocations, deployments, and performance.
This latest sale underscores a key reality for any large crypto organization: balancing immediate operational needs with conviction in the native asset. By sticking to a clear, published policy and using OTC channels, the EF aims to minimize market disruption while continuing to fund Ethereum’s development.
FAQ Section
How much ETH did the Ethereum Foundation sell?
The Ethereum Foundation transferred 10,000 ETH, worth approximately $23.16 million at the time of the transaction.
What was the sale price per ETH?
The average price realized was around $2,316 per ETH.
Who bought the 10,000 ETH from EF?
The buyer was BitMNR (Bitmine), a corporate entity listed on the NYSE.
Why is the Ethereum Foundation selling ETH?
The sale follows their official Treasury Policy to maintain an operating expense buffer (2.5 years of opex) while keeping the majority of reserves in ETH for long-term alignment.
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