The ETH-dominated treasury has helped the foundation to dispel sell-off allegations. (Photo by Bastian Riccardi/Pexels)
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Key Takeaways
The Ethereum Foundation’s treasury stands at $970 million, with 99.9% of its crypto assets being ETH.
Over the past two years, the majority of grants were spent on L1 testing, research, and development.
The foundation follows a conservative treasury management policy, periodically selling ETH to ensure sufficient savings.
The Ethereum Foundation (EF), the non-profit driving the Ethereum ecosystem, has published its 2024 quarterly report, shedding light on its financial stance.
The report shows that nearly the entire EF crypto treasury is held in Ethereum (ETH), underscoring the foundation’s strong, long-term commitment to the asset—even as wider reports surface of sell-offs across the crypto market.
As of October, the EF’s treasury stands at a strong $970 million.
This amount includes $788.7 million in crypto assets, with 99.9% of these assets held in ETH.
The remaining $181.5 million consists of non-crypto investments and assets.
Ethereum Foundation Treasury. Source: EF
The report also highlights the foundation’s key spending in the financial years 2022 and 2023.
Over the past two years, the majority of the grants were allocated towards Layer 1 testing, research, and development, with funding new institutions being the second largest expenditure.
Ethereum Foundation 2023 spending. Source: EF
In 2022, the EF allocated 30% of its total $105 million expenditure to Layer 1 testing, research, and development, while grants for new institutions made up 27% of total spending.
In 2023, spending on L1 protocols rose to $34 million, and the foundation allocated $43 million out of its total $134 million budget to fund new institutions.
Ethereum Foundation Addresses ETH Sales Conspiracy
The strong ETH-dominated treasury has also helped the EF to dispel conspiracy theories surrounding the foundation and Vitalik Buterin’s ETH sales.
The foundation claims to follow a conservative treasury management policy that ensures they have sufficient resources even during a multi-year market downturn.
“This requires periodically selling ETH to ensure sufficient savings for future years and programmatically increasing our fiat savings in bull markets to fund spending in bear markets. “
Vitalik Buterin, the co-founder of Ethereum, had previously clarified that most of the recent ETH sales were for charity commitments, and he hasn’t sold any ETH for a profit in the last five years.
The quarterly report emphasizes that the EF’s primary goal is to fund critical public goods for the Ethereum ecosystem, and most of its recent sales were directed toward this goal.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
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