The Ethereum Foundation released its 2024 financial report, reaffirming its commitment to holding the majority of its treasury in ETH.

Ethereum Foundation Holds Most Assets in ETH

The Ethereum Foundation holds nearly all its reserves in ETH. According to the foundation’s latest financial report, 99% of its $788.7 million in cryptocurrency holdings is held exclusively in ETH.

In its 27-page report, the foundation revealed that as of October 31, its assets totaled approximately $970.2 million, with $788.7 million in cryptocurrency and $181.5 million in “non-crypto investments and assets.”

“We have decided to keep the majority of our treasury in ETH. The EF believes in the potential of Ethereum, and our ETH holdings represent this long-term perspective,” states the Ethereum Foundation.

Conservative Treasury Management Policy

Addressing recent ETH sales, the foundation stated its goal to fund “essential public goods for the Ethereum ecosystem” with a long-term outlook. The foundation has adopted a “conservative treasury management” approach to ensure sufficient resources even in the event of a multi-year market downturn.

“This involves regular ETH sales to secure adequate savings for the coming years, and we systematically increase our fiat savings during bull markets to fund expenses in bear markets,” the Ethereum Foundation added.

Ethereum Foundation’s 2023 Expenditures

The report also detailed 2023 spending, showing that the largest allocation, 30.4% ($32.1 million), went toward Layer 1 research and development initiatives. Another 27.1% ($28.6 million) was directed toward funding new institutions and grants supporting organizations focused on the Ethereum ecosystem’s development.

Strong Performance by ETH

ETH has shown strong performance recently, recording a 16.2% gain over the past week, surpassing Bitcoin’s 9.4% increase. At the time of writing, ETH is trading at $2,914, still about 40% below its all-time high of $4,890.

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