A wallet linked to the Ethereum Foundation sold 2,000 ETH over two days and swapped the proceeds into a stablecoin. The sale follows an earlier one in October, and the Foundation has expressed plans to shift toward yield-generating strategies.
A wallet linked to the Ethereum Foundation sold 2,000 ETH, which a post on X valued at $3.87 million. The sale landed as ETH traded close to the $2,000 to $2,100 range, a zone the source describes as widely watched support.
How the sale went down
The wallet sold 1,000 ETH on November 10 and another 1,000 ETH on November 11, 2026. Both batches went through CoW Protocol at average prices between $2,080 and $2,130 per ETH. The proceeds were converted into USDS, a stablecoin.
Before the November transactions, the wallet had been inactive for roughly two weeks. It still held more than 24,000 ETH, worth approximately $51.46 million as of the sale dates.
A familiar pattern
However, this was not a one-off. The same wallet sold 2,785 ETH on October 26, 2026, at an average price of around $2,306 per ETH, so the November batches cleared a couple hundred dollars per coin lower.
The Foundation's approach is rooted in its treasury management policy, which targets a fiat operating buffer covering about 2.5 years of operational expenses. To maintain it, the organization periodically converts portions of its ETH into stablecoins.
What it means for ETH holders
Still, the Foundation has publicly expressed plans to shift toward yield-generating strategies, including DeFi and staking, to fund operations without selling tokens on the open market.
On raw size, the sale probably does not move the price much, because 2,000 ETH is modest relative to overall ETH market liquidity. But the pattern carries a risk: if ETH keeps sliding, a Foundation committed to a 2.5-year expense buffer may need to sell more coins to raise the same dollar amount.
Source: Crypto Briefing
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