The Ethereum Foundation has published its financial report for 2024, highlighting its commitment to holding the “vast majority” of its treasury in ETH.

Ethereum Foundation’s Treasury Holdings

Ethereum makes up nearly all of the Ethereum Foundation’s treasury. According to the latest financial report, 99% of its $788.7 million crypto holdings are held exclusively in ETH. The foundation disclosed that as of October 31, it held approximately $970.2 million in assets, with $788.7 million in crypto and $181.5 million in “non-crypto investments and assets.”

“We choose to hold the majority of our treasury in ETH. The EF believes in Ethereum’s potential, and our ETH holdings represent that long-term perspective.”

Conservative Treasury Management Policy

The foundation addressed recent sales of ETH, explaining that its goal is to fund “important public goods for the Ethereum ecosystem for years into the future.” This strategy involves a “conservative treasury management policy” to ensure the organization has sufficient resources, even during a multi-year market downturn.

“This requires periodically selling ETH to ensure sufficient savings for future years, and programmatically increasing our fiat savings in bull markets to fund spending in bear markets.”

2023 Spending Breakdown

The report also detailed 2023 spending, showing that the largest share — 30.4% (or $32.1 million) — was allocated to layer-1 research and development initiatives. This was followed by 27.1% (or $28.6 million), directed towards funding new institutions, including grants supporting organizations dedicated to the Ethereum ecosystem.

ETH Performance

Meanwhile, ETH has demonstrated solid performance, posting a 16.2% gain over the past week, outpacing Bitcoin’s 9.4% increase. As of the latest update, ETH is trading at $2,914, down 40% from its all-time high of $4,890.

For more updates on Ethereum and other cryptocurrency news, stay tuned to Global Crypto News.

#AI #DigitalAssets #CryptoInvestor

Post Views: 6