Ethereum Foundation Just Sold $10M in ETH — Here Is What the Policy Behind It Actually Says



The Ethereum Foundation confirmed a sale of 5,000 ETH to BitMine Immersion Technologies, worth roughly $10.2 million at $2,042.96 per ETH. The transaction was executed via a Safe multisig wallet and processed using CoW DAO's TWAP mechanism to limit market impact. It is the second direct OTC deal between the EF and a corporate treasury buyer in 2025. The first was a 10,000 ETH sale to SharpLink Gaming in July, worth $25.7 million.

The sale is governed by a treasury policy the EF published in June 2025. Written with input from Hsiao-Wei Wang, Vitalik Buterin, Tim Beiko, Dankrad Feist, and others, the policy sets annual spending at 15% of total treasury value. The EF also keeps a 2.5-year operating buffer in fiat-denominated assets. Every quarter, the foundation checks how far its reserves have drifted from that target. If there is a gap, ETH gets sold.

Over the next five years, the EF plans to reduce that 15% spending rate in a straight line down to 5%, which is a standard ratio for endowment-based organizations.

What most coverage missed is the Defipunk section. The policy commits the EF to deploying treasury capital only into DeFi protocols that meet specific criteria — permissionless access, open-source contracts, onchain privacy options, minimal oracle reliance, and no admin keys with broad powers. This is not a soft preference. It will govern every future EF onchain deployment.

The EF is also staking. On-chain data showed the foundation moved 22,517 ETH into the Beacon Deposit Contract this month. That is over $46 million staked in a single day, the largest such allocation the EF has ever recorded.

The full treasury policy, the onchain transactions, and the multisig address are all public. For full coverage of how this fits into Ethereum's broader direction in 2025 and 2026, read the complete analysis at CryptoNewsLive.org.

This is not the last ETH sale. The policy makes that clear. What matters is the framework behind each one. 

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