The Ethereum Foundation completed a $10.38 million over-the-counter sale of 5,000 ETH to institutional firm BitMine Immersion Technologies. This transaction highlights a strategic shift toward OTC treasury sales to fund development while minimizing market impact. Concurrently, corporate holdings of Ethereum now exceed 5.16 million ETH, suggesting an evolving capital formation model for the network.
On March 14, the Ethereum Foundation transferred 5,000 Ethereum, worth approximately $10.38 million, to a newly created wallet. The transaction was later confirmed by the Foundation as an OTC sale priced near $2,042 per ETH to BitMine Immersion Technologies, a firm linked to Tom Lee.
This structure moves supply directly to an institutional counterparty instead of routing it through exchanges. The approach helps fund ecosystem development while limiting immediate market impact.
The Foundation’s treasury now holds roughly 169,863 ETH, valued near $359 million, according to on-chain data. Historically, the Foundation has sold ETH periodically to fund research, grants, and ecosystem initiatives.
Institutional accumulation continues expanding across Ethereum treasuries. Corporate holdings now exceed 5.16 million ETH across 17 entities, far above the Foundation’s reserve.
This evolving dynamic suggests a gradual shift toward institution-backed capital formation. However, rising concentration among large holders introduces governance and transparency concerns.
