The Ethereum Foundation has accelerated its treasury stakeholding efforts, deploying $46.2 million in Ethereum in its largest move yet following Bitmain’s recent sale.
On Monday, the foundation’s multi-sig treasury wallet made 11 deposits into the Ethereum Beacon deposit contract, each about 2,047 ether (ETH), for a total of 22,517 tokens worth about $46.2 million, according to data from Arkham Intelligence.
The Ethereum Foundation began holding ETH in February, depositing 2016 ETH and outlining plans to stake up to 70,000 ETH, with rewards reinvested in research, ecosystem development, and grants.
The institution also deposited a smaller tranche of 31 ETH earlier this month, bringing the total staked holdings to approximately 24,564 ETH as it turns to staking to generate yield, rather than relying on periodic Ethereum sales, which have historically drawn criticism.
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EF sells 5,000 ETH to BitMine in an OTC transaction
The new staking move comes after EF completed an over-the-counter (OTC) sale of 5,000 ether to BitMine Immersion Technologies, valued at approximately $10.2 million. The foundation said proceeds will support core operations, including protocol research, ecosystem growth and community grants.
This deal marks the Foundation’s second direct OTC sale to a corporate buyer, following the sale of 10,000 ETH to SharpLink Gaming in July 2025.
EF currently has about $361 million in on-chain assets, with the vast majority, about $360.8 million, held in Ethereum on the Ethereum network, along with small balances across networks like Arbitrum, Optimism, and Bitcoin, according to Arkham.
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The price of ether risks falling further
Ether fell below the $2,000 level over the weekend, raising the risk of a deeper correction. Analysts, including Onur, CryptoWZRD, and Ted Pillows, pointed to repeated failure at $2,200 and weak momentum, with some warning that ETH could fall toward the $1,750-$1,850 range.
Demand for ether has also turned negative, hitting its lowest level in 16 months, according to Capriole Investments.
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