The Ethereum Foundation has sold approximately $10.38 million worth of ETH in a private over-the-counter transaction. The buyer was the cryptocurrency firm BitMine Immersion Technologies, which acquired nearly 5,000 ETH. Such OTC deals allow large transactions to occur without significantly impacting public market prices.
The Ethereum Foundation sold around $10.38 million worth of ETH through an over-the-counter transaction to cryptocurrency funding firm BitMine Immersion Technologies. The transaction involved nearly 5,000 ETH transferred directly between wallets in a private trade.
On-chain tracking platforms identified the transfer as an OTC proceeding. These trades allow sizable transactions without causing sudden price volatility in the open market.
The purchase underscores persistent institutional activity surrounding the token. Companies have extensively collected ETH as part of treasury strategies and long-term blockchain investment initiatives.
BitMine Immersion Technologies has emerged as one of the largest institutional holders of the token. The firm holds millions of ETH tokens, representing a significant share of the total circulating supply.
OTC transactions play an important role in cryptocurrency markets when large entities move significant amounts of digital assets. By conducting trades privately, investors can decrease slippage and avoid dramatic price swings.
The Ethereum Foundation has formerly conducted similar OTC deals. In a notable case in 2025, the organization sold 10,000 ETH in a private transaction.
The latest OTC sale illustrates current activity among major cryptocurrency entities. It underlines the role of institutional players in shaping liquidity and capital flows within the coin’s ecosystem.
