Ethereum Foundation sells 10,000 ETH in OTC deal

Ethereum Foundation sold 10,000 ETH for $23.87M via OTC with BitMine, following a 5,000 ETH sale. Proceeds fund operations, grants, and align with treasury policy.

The Ethereum Foundation sold 10,000 ETH on April 24, 2026, via an over-the-counter (OTC) transaction with BitMine (BitMNR), raising about $23.87 million at an average price of $2,387 per ETH. The transaction was publicly disclosed, including the on-chain wallet address for transparency and verification. This sale follows a previous transaction in March 2026, where the Foundation sold 5,000 ETH. Both sales are part of the Foundation’s ongoing treasury management strategy. Proceeds will support protocol development, research, ecosystem grants, and community programs. The Foundation’s treasury policy limits annual expenditures to 15% of holdings and maintains a 2.5-year operational reserve. OTC sales are used to minimize market volatility. While these sales are not large enough to move the market alone, they have historically caused short-term negative effects for ETH holders.