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#GateSquareAprilPostingChallenge
Ethereum Foundation Dumps 5,000 ETH Amid Secret Treasury Restructuring
Ethereum Foundation (EF) announced it will swap 5,000 ETH for stablecoins with CoW DAO's time-weighted average price (TWAP) feature to fund research, grants, and donations.
This swap is valued at approximately US$11.0 million at current prices, following the treasury management framework published by EF in June 2025.
Why EF Is Selling ETH Now
EF is one of the largest individual Ether holders, and its selling activity has attracted attention and scrutiny from the community.
This latest conversion indicates that the organization is truly implementing the treasury policy published in June 2025.
The policy stipulates an annual operational expenditure of 15% of the total treasury value. Additionally, EF maintains cash reserves for the next 2.5 years.
EF conducts periodic checks to ensure fiat reserves meet targets; if shortages are found, ETH will automatically be sold in the next quarter.
The foundation has confirmed on X that CoW DAO's TWAP mechanism will execute the transaction. TWAP splits large orders over a period of time to reduce market impact.