Ethereum Foundation’s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether – Bitcoin News

The Ethereum Foundation published a report on Monday showing the current value of $1.6 Billion in its treasury. $1.3 billion of the treasury’s assets are held in cryptocurrencies while the rest of the treasury is composed of non-crypto investments and assets.

Ethereum Foundation has $1.294 Billion of Ether

The Ethereum Foundation is a non-profit organization that’s dedicated to fostering growth within the Ethereum ecosystem. In the recently released EF April 2022 Report, the EF explains how it supports the Ethereum ecosystem in a variety of ways.

EF creates teams focused on improving Ethereum and the network’s ecosystem, the non-profit provides projects with grants to fund other teams outside of the core EF teams, it manages delegated domain allocation, and it also leverages third-party funding techniques.

The April 2022 report explains the Ethereum Foundation and its functions. It also discusses financials and the EF treasury. The EF currently has $1.6 billion of treasury and $1.3 billion of digital currencies such as ethereum.

According to the EF report 80.5% of crypto assets in ether are held by the foundation. This represents 0.297% total ether supply. EF insists that even during multi-year crypto market downturns, the non-profit allocates a “conservative treasury” that’s “immune to the changes in the price of ethereum.”

The reason why EF is holding so much ether is because it represents the non-profit’s belief in Ethereum’s future potential and the holdings “represent that long-term perspective.”

EF invests $48M in 2021

The EF report also disclosed that last year, the non-profit spent an aggregate of around $48 million, and $20 million of the total spent was directed at “external spending” such as grants.

The balance went to projects and teams that use the Ethereum platform. The entire spending balance was placed into unique categories which include layer one (L1) research and development (R&D), layer one (L2) R&D, applied ZK research, community development, and internal operations spending.

As Bitcoin.com News reported recently, the Ethereum Foundation is just one organization that holds ether in a Treasury. It was revealed that 12 companies had close to $700,000,000 in ethereum assets on their balance sheets.

What do you think about the Ethereum Foundation’s financial report disclosing its current ethereum holdings? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been an active participant ever since. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.