Ethereum Foundation Finalizes 5,000 ETH Sale In $10M OTC Deal — Details

bitcoinistPublished on 2026-03-16Last updated on 2026-03-16

Abstract

The Ethereum Foundation (EF) has completed an over-the-counter (OTC) sale of 5,000 ETH for approximately $10.21 million to BitMine Immersion Technologies, the world's largest corporate holder of Ether. The tokens were sold at an average price of $2,042.96. Proceeds from the sale will be directed toward the EF's core operations, including protocol R&D, ecosystem development, and community funding. This transaction is part of the foundation's ongoing treasury management strategy, which also includes staking and supplying ETH to validators. This marks the EF's second such OTC deal in less than a year, following a 10,000 ETH sale in July 2025. The OTC method avoids the bearish market pressure typically associated with public exchange sales. At the time of writing, ETH is trading around $2,086.

The Ethereum Foundation (EF) announced that it has completed an over-the-counter (OTC) sale of 5,000 ETH over the weekend. According to the organization’s disclosure, proceeds from this sale will be directed towards its core operations and other activities.

Ethereum Foundation Sells $10 Million In ETH To BitMine

In a March 14 post on the social media platform X, the Ethereum Foundation said that it finalized a 5,000 ETH OTC deal, valued at roughly $10.21 million. The EF identified BitMine Immersion Technologies, the world’s largest corporate holder of Ether, as the counterparty (buyer) in this over-the-counter deal.

The Ethereum Foundation revealed that the Ether tokens will be sold to BitMine at an average price of $2,042.96. Hence, this deal could be viewed as a fresh acquisition for BitMine, an ETH treasury company currently holding more than 4.5 million Ether valued at approximately $9.3 billion.

The EF disclosed that the on-chain transaction will come from a Safe multisig wallet, with proceeds from the sale directed toward the foundation’s core operations and activities, including protocol research and development (R&D), ecosystem development, community grant funding, and so on.

The organization also mentioned that the transaction is part of ongoing treasury management activity based on a recently published policy. In its treasury policy in June 2025, the foundation revealed that Ether tokens will be sold to maintain its fiat-denominated assets from the Opex (operating expense) Buffer target.

Other strategies for their Ether holdings include staking, with over 2,000 ETH deployed so far, and plans to supply around 70,000 ETH into validators using open-source infrastructure from third-party providers.

This latest sale to BitMine would represent the second deal of this nature in less than a year. In July 2025, the Ethereum Foundation sold 10,000 ETH over the counter to SharpLink Gaming — another ETH treasury firm — at an average price of $2,572.37 in a transaction worth $25.7 million.

Ethereum Price Overview

The over-the-counter path of this deal means that the Ethereum price will not face the bearish pressure typically associated with centralized exchange sales. Last September, the foundation announced plans to sell 10,000 ETH via public exchanges, sparking criticism from the crypto crowd.

As of this writing, the price of ETH stands at around $2,086, reflecting an over 1% decline in the past 24 hours. This past-day decline is not enough to wipe the altcoin’s weekly gain, which stands at nearly 7% over the past seven days.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

Related Questions

QHow much ETH did the Ethereum Foundation sell in the OTC deal and what was the total value?

AThe Ethereum Foundation sold 5,000 ETH in an over-the-counter deal with a total value of approximately $10.21 million.

QWho was the counterparty (buyer) in the Ethereum Foundation's OTC sale of 5,000 ETH?

AThe counterparty (buyer) in the OTC deal was BitMine Immersion Technologies.

QAccording to the article, what will the proceeds from the ETH sale be used for?

AThe proceeds from the sale will be directed towards the foundation's core operations and activities, including protocol research and development (R&D), ecosystem development, and community grant funding.

QHow does an over-the-counter (OTC) sale differ from a sale on a public exchange in terms of market impact, according to the article?

AAn over-the-counter (OTC) sale means the transaction does not occur on a public exchange, so it avoids the bearish selling pressure typically associated with large sales on centralized exchanges.

QWhat was the average price per ETH in this OTC deal with BitMine?

AThe Ether tokens were sold at an average price of $2,042.96 each.

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