Ethereum co-founder Vitalik Buterin sold about 2,961 Ether worth $6.6 million over a three-day period, following his earlier announcement to withdraw some holdings. Blockchain tracker Lookonchain reported the transactions at an average price of $2,228 per ETH, with Arkham Intelligence data showing the sales were routed through CoW Protocol using multiple small swaps. Buterin has set aside $45 million in ETH for privacy and open infrastructure initiatives, to be deployed gradually. Market sentiment remains tense, as Bitwise chief investment officer Matt Hougan described a “full-blown crypto winter” since early 2025.
Vitalik Buterin sold approximately 2,961 Ether worth $6.6 million over three days. The sales were executed after he previously announced plans to withdraw some of his holdings.
According to Lookonchain, the transactions occurred at an average price of about $2,228 per Ether. Ethereum’s native cryptocurrency traded around $2,130 at the time, down more than 5% over the past day.
Arkham Intelligence data shows the ETH sales were routed through CoW Protocol. Multiple small swaps were used rather than a single block trade to reduce market impact.
Last week, Vitalik Buterin said he set aside 16,384 Ether worth about $45 million from his personal holdings. These funds will support privacy-preserving technologies, open hardware, and secure, verifiable software.
He added that the funds would be deployed gradually over the coming years. This comes as the Ethereum Foundation enters a period of “mild austerity” while pursuing its technical roadmap.
Buterin stated, “Specifically, we are seeking the existence of an open-source, secure and verifiable full stack of software and hardware that can protect both our personal lives and our public environments.”
The Ethereum Foundation has previously faced criticism for selling ETH to fund operations. It has since explored alternative strategies, including staking and decentralized finance-based approaches.
The sales come during a period of heightened sensitivity toward large holders. Falling ETH prices have prompted leveraged Ether whales to unload assets to repay loans.
In an X post, Bitwise chief investment officer Matt Hougan said the crypto market has been in a “full-blown crypto winter” since January 2025. He added, “Chances are, we’re closer to the end than the beginning.”
