The Ethereum Foundation, which has always been on the agenda of the cryptocurrency sector with its Ethereum (ETH) sales, announced its assets.
Accordingly, the Ethereum Foundation announced that its treasury as of October 31, 2024 was approximately $970 million.
It reported that $788.7 million of these assets consist of cryptocurrencies and $181.5 million consists of non-crypto investments and assets.
The Foundation states that 99.45% of its crypto assets are in ETH, which corresponds to 0.26% of the total ETH supply.
The foundation also stated that it will provide financial support for critical public products for the Ethereum ecosystem in the long term with a conservative treasury management approach. It added that they will periodically sell ETH for this purpose.
“We choose to hold the majority of our treasury in ETH. The Ethereum Foundation believes in the potential of Ethereum, and our ETH holdings represent this long-term view.
The Ethereum Foundation treasury also aims to fund important public goods for the Ethereum ecosystem.
This requires selling ETH periodically to ensure sufficient savings for the coming years, and selling it programmatically in bull markets to fund spending in bear markets. As a result, it is necessary to sell ETH regularly to ensure sufficient reserves for the coming years.”
*This is not investment advice.