The Ethereum Foundation (EF), in a recent financial report, revealed that the estimated treasury of the foundation is $1.6 billion as of March 31, 2022. The corporation also revealed about selling a chunk of its Ethereum (ETH) holdings at its peak.
The Ethereum Foundation produced a thorough financial report detailing its spending and total assets for the year 2021.
Ethereum Foundation assets
As per the report, cryptocurrencies made up the majority of their holdings, with non-crypto assets accounting for barely $300 million. Ethereum accounts for 99% of the foundation’s cryptocurrency assets, accounting for over 0.3% of the total Ethereum supply.
The foundation noted that they have a conservative treasury management approach. In that strategy, the funds are betting on Ethereum’s long-term success as an asset while still having the capacity to pay all of their goals even if the market goes down for years.
L1 research and development accounted for the majority of the fund’s spending. Foundation spent around $22 million on it. Community development came in second in spending, with spending about $10 million. On L2 research it spent just $2 million.
ETH liquidation
Despite being pro-Ether, the foundation liquidated a portion of its crypto assets at the peak ETH price. On ETH liquidation, several members of the Ethereum community suspected insider trading. However, according to the foundation, the decision to sell ETH was in favour of non-crypto assets due to high ETH pricing.
Despite the current market circumstances, the foundation continues to maintain a large amount of Ether in its treasury due to its belief in its long-term potential.
, revealed that the estimated treasury of the foundation is $1.6 billion as of March 31, 2022.){kind=link}