On Monday, the Ethereum Foundation (EF) released a financial report showing that $1.6 billion is currently held in the foundation’s treasury. $1.3 billion of that treasury is held in cryptocurrencies, and the rest of the treasury consists of non-cryptocurrency investments and assets.
The Ethereum Foundation holds $1.294 billion in ethereum
The Ethereum Foundation is a non-profit organization dedicated to driving growth in the Ethereum ecosystem. EF’s recent April 2022 Report explains that EF supports the Ethereum environment in various ways.
EF creates teams aimed at 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 uses third-party funding methods.
After explaining what the Ethereum Foundation is and what it does, the April 2022 report looks at EF’s treasury and financial performance. According to EF, it currently has $1.6 billion in its coffers, with $1.3 billion in digital currencies such as ethereum (ETH).
In fact, according to EF’s report, the fund holds 80.5% of its crypto assets in ethereum, which is 0.297% of the total supply of ethereum. EF insists that even during multi-year downturns in the cryptocurrency market, the nonprofit allocates a “conservative treasury” that is “immune to changes in the price of ether.”
The reason EF keeps so much Ether is because it represents the nonprofit’s belief in Ethereum’s future potential, and its storage “represents a long-term perspective.”
EF will spend $48 million in 2021
The EF report also reports that the nonprofit spent a total of about $48 million last year, with $20 million of the total going to “outside expenses” such as grants.
The remaining balance funded teams and projects related to the Ethereum ecosystem. The entire balance of spending was allocated into unique categories, which include Level 1 (L1) research and development, Level 1 (L2) research and development, ZK applied research, community development, and internal operations spending.
The Ethereum Foundation is one of many organizations that hold ether in treasury, as Bitcoin.com News recently reported on April 10 about a number of ether treasuries. The report showed 12 different companies that hold about $700 million worth of ethereum on their balance sheets.
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