Ethereum Foundation has sold more Ethereum — and people are starting to ask questions.
The foundation recently sold 10,000 ETH to BitMine Immersion Technologies in an over-the-counter (OTC) deal. The sale was worth about $22.9 million, with ETH priced around $2,292.
This is not a one-off.
It’s actually the third sale to BitMine in just two months:
- 5,000 ETH in March
- 10,000 ETH one week earlier
- Another 10,000 ETH now
That’s a significant amount of ETH sold in a short time.
The foundation says the reason is simple: funding.
According to them, these sales help cover:
- Daily operations
- Research and development
- Grants for developers
- Ecosystem growth
In short, they’re using ETH from their treasury to keep the network moving forward.
But not everyone is convinced.
Some community members are questioning the timing and size of these sales — especially with ETH trading around $2,300. A common concern is whether the foundation is selling too much, too quickly.
The debate got louder after another move.
The foundation recently unstaked around 17,000 ETH (worth about $40 million) from a staking protocol linked to Lido. This step is part of the normal process to unlock staked ETH, but it raised eyebrows because people aren’t sure what the funds will be used for next.
So far, there’s no confirmation that the unstaked ETH will be sold.
Still, the combination of:
- Multiple large sales
- A big unstaking move
has made some users uneasy.
On the other hand, there’s a longer-term picture.
The foundation continues to fund a wide range of projects, including:
- Core Ethereum clients
- Security tools for validators
- Zero-knowledge (zk) research
- Privacy and identity systems
- Developer education
These are not short-term plays — they’re infrastructure investments meant to strengthen Ethereum over time.
So the situation comes down to perspective:
- Critics see heavy selling and worry about market impact
- The foundation sees it as necessary funding for long-term growth
Either way, one thing is clear — how the Ethereum Foundation manages its ETH treasury is getting a lot more attention now.
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