The Ethereum Foundation (EF), the non-profit organization that promotes the growth and development of the Ethereum blockchain, has revealed its treasury holdings, totaling $970.2 million in ether (ETH) and other investments.
According to a recent report, the foundation holds $788.7 million in crypto assets, with approximately 99.45% held in ETH, representing 0.26% of the total ETH supply.
The non-profit also revealed holding approximately $181.5 million in non-crypto assets and investments.
“We choose to hold the majority of our treasury in ETH. The EF believes in Ethereum’s potential, and our ETH holdings represent that long-term perspective,” the foundation wrote.
The EF stated that its treasury intends to support essential public goods for the Ethereum ecosystem. It also emphasized its commitment to a cautious treasury management approach, aiming to maintain ample 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,” the EF added.
The non-profit plays a significant role in developing and maintaining the Ethereum network, funding key projects, research initiatives, and developer grants.
EF Support Ethereum Projects
Over the years, the EF has allocated millions of dollars towards several projects. The non-profit disclosed that nearly $500 million was deployed to support ecosystem projects between 2022 and 2023.
According to a report, in 2023, the EF’s largest spending area was on “new institutions,” amounting to $47.4 million, a notable increase from $28.6 million in 2022, which includes grants to new institutions supporting the Ethereum ecosystem.
Additionally, the EF invested $34.7 million in Layer 1 research and development, an increase from $32.1 million the previous year.
The foundation’s report also showed that entities within the Ethereum ecosystem collectively spent more than $497 million on project funding, with the EF alone contributing approximately $240.3 million, or around 48.3% of the total.
The rest of the funding was provided by organizations such as MakerDAO (now renamed Sky), Optimism, Gitcoin, Decentraland, Aragon, Uniswap, Starknet, MetaMask DAO, and Protocol Guild, highlighting a collaborative effort within the Ethereum community.
Aya Miyaguchi, executive director of the EF, noted that the foundation is committed more than ever to planting seeds that may only mature years down the line, ensuring Ethereum’s resilience and collaborative growth.
