Ethereum Foundation Details
The largest non-profit in Ethereum has revealed how many ETH it owns. The Ethereum Foundation released a new report on Monday as part of its efforts to increase transparency and communicate its goals to the Ethereum community. The non-treasury profit’s holdings totalled $1.6 billion as of March 31, 2022, according to the 28-page report.
80.5% of the $1.6 billion is owned in ETH, accounting for 0.297 % of ETH supply. The remaining 19.5 % of the Foundation’s portfolio is made up of non-crypto assets and investments, as well as other cryptocurrencies.
The report also detailed how the Foundation manages its portfolio in order to continue funding Ethereum ecosystem projects. “The EF follows a conservative treasury management policy that ensures we have sufficient resources to fund the EF’s basic objectives even in the event of a multi-year market slump,” according to the report.
Furthermore, the Ethereum Foundation clarified its position on selling its ETH holdings in order to enhance its non-crypto savings. According to the Foundation, it actively sells parts of its ETH reserves in reaction to rising prices in order to offer a larger safety margin for its core budget.
The Ethereum Foundation had previously cashed out by selling 70,000 ETH at the peak of the 2017 bull market, 35,000 immediately after the peak in May 2021, and another 20,000 the day after Ethereum hit its current all-time high of $4,878 on Nov. 10. Because of the amazing timing of the Foundation’s ETH sales, many in the crypto community are watching for portfolio rebalances as a signal that Ethereum may have reached short to medium-term highs.
The Ethereum Foundation is the most important non-profit organization committed to the Ethereum ecosystem. The Foundation spent around $48 million in 2021 on various programs such as Layer 2 research and development, zero-knowledge roll-up applications, and community building.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews