On Monday, the Ethereum Foundation (EF) released a financial report showing that the foundation currently has $1.6 billion in its treasury. $1.3 billion of the Treasury’s assets are held in cryptocurrencies, while the rest of the Treasury consists of non-crypto investments and assets.
The Ethereum Foundation holds $1.294 billion worth of Ether
The Ethereum Foundation is a non-profit organization dedicated to fostering growth within the Ethereum ecosystem. The recently released April 2022 EF report explains that there are several ways EF is strengthening the Ethereum environment.
EF assembles teams focused on improving Ethereum and the network ecosystem, the nonprofit provides grants to projects to fund other teams outside of EF’s core teams, manages delegated domain allocation, and also leverages third-party funding techniques .
After explaining what the Ethereum Foundation is and what it does, the April 2022 report discusses EF’s finances and finances. According to EF, it currently has $1.6 billion in its treasury, and $1.3 billion is made up of digital currencies like Ethereum (ETH).
In fact, according to the EF report, the foundation holds 80.5% of its crypto holdings in ether, which is 0.297% of the total ether supply. EF insists that even during multi-year downturns in the crypto market, the nonprofit allocates a “conservative treasury” that is “immune to Ethereum price changes.”
The reason EF holds so much Ether is because it reflects the nonprofit’s belief in Ethereum’s future potential, and the holdings “represent that long-term perspective.”
EF is spending $48 million in 2021
The EF report also revealed that the nonprofit spent a total of about $48 million last year, and $20 million of total spending went to “outside spending” like grants.
The remaining balance funded teams and projects involving the Ethereum ecosystem. The overall spending balance has been broken down into distinct categories comprising research and development (R&D) at level one (L1), research and development (L2) at level one, applied CC research, community development, and internal operating expenses.
The Ethereum Foundation is one of many organizations holding ether in a treasury, as Bitcoin.com News recently reported April 10 on a series of ether treasury accounts. The report had shown 12 different companies holding nearly $700 million worth of Ethereum in their balance sheets.
What do you think of the Ethereum Foundation’s financial report revealing their current Ethereum holdings? Let us know what you think about this topic in the comment section below.
photo credit: Shutterstock, Pixabay, WikiCommons
