According to reports, the Ethereum Foundation has accelerated its treasury staking, recently depositing a total of 46.2 million dollars worth of Ethereum into staking contracts in 11 transactions following the BitMine trade, marking the largest step to date.
On Monday, the foundation's treasury multi-signature wallet made 11 deposits into the Ethereum beacon deposit contract, each for approximately 2047 Ethereum (ETH), totaling 22,517, with an overall value of about 46.2 million dollars, according to data from Arkham Intelligence.
The Ethereum Foundation began staking Ethereum in February, with an initial deposit of 2016, and plans to stake up to 70,000 Ethereum in the future, with rewards used for reinvestment in research, ecological development, and funding projects.
Earlier this month, the foundation also deposited a smaller amount of 31 ETH, bringing its total staked position to about 24,564 ETH. This move indicates that it is shifting to generating revenue through staking rather than relying on the previously criticized practice of regularly selling ETH.
EF sells 5000 ETH to BitMine through OTC
This new staking action occurred after EF completed an over-the-counter transaction selling 5000 Ethereum to BitMine Immersion Technologies, valued at approximately 10.2 million dollars. The foundation stated that the funds will be used to support core operations, including protocol research, ecological growth, and community funding.
This transaction marks the foundation's second direct over-the-counter sale to a corporate buyer, following its sale of 10,000 ETH to SharpLink Gaming in July 2025.
According to Arkham data, EF currently holds approximately 361 million dollars in on-chain assets, with the majority being around 360.8 million dollars in Ethereum assets held on the Ethereum network, along with a small balance held on networks like Arbitrum, Optimism, and Bitcoin.
Ethereum price faces further downside risk
Last weekend, Ethereum fell below the 2000 dollar mark, increasing the risk of a deeper pullback. Analysts, including Onur, CryptoWZRD, and Ted Pillows, pointed out that the 2200 dollar line has been breached multiple times, and momentum is weakening, with some warning that ETH may dip into the 1750 to 1850 dollar range.
Data from Capriole Investments shows that Ethereum demand has also turned negative, dropping to its lowest level in 16 months.
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