Ethereum Foundation Sells 10,000 ETH to BitMine via OTC

On April 24, 2026 the Ethereum Foundation transferred 10,000 ETH to BitMine through an over-the-counter agreement for roughly $23.87 million, at an average price of $2,387. The transfer was executed on-chain from the Foundation’s Safe multisignature wallet at 0x9fC3dc011b461664c835F2527fffb1169b3C213e. Proceeds are earmarked for research and development, core protocol work and grant programs.

The sale was arranged as an OTC transaction to limit market impact and slippage that can result from large spot-market orders. The April transfer follows a March 2026 sale in which the Foundation sold 5,000 ETH to the same buyer.

The Foundation’s treasury policy, adopted in June 2025, caps operational spending at 15% of the treasury annually while maintaining a 2.5-year runway. The Foundation stated the April transaction conforms with that policy and that proceeds will be deployed according to its spending rules.

Blockchain analytics firm Arkham estimates the Foundation holds about 92,538 ETH, valued at roughly $214 million based on recent prices. Portions of the treasury have been staked to earn yield. In early April the Foundation deposited about 45,034 ETH in multiple lots of roughly 2,047 ETH to the Ethereum Beacon Chain, bringing total staked holdings to more than 69,500 ETH. With annual staking rates between about 2.7% and 3.8%, those staked assets are projected to generate between roughly $3.9 million and $5.4 million a year.

BitMine’s on-chain balances increased after its ETH purchases. As of April 20, BitMine controlled approximately 4,976,485 ETH, equal to about 4.12% of the total ETH supply.

On April 24 ETH traded near $2,353, a five-day gain of about 2.7% while remaining below the $2,500 level. Market participants monitor large OTC transfers for potential effects on liquidity when prices approach key technical levels.