Ethereum Foundation Transfers $24M ETH

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The Ethereum Foundation has been spotted moving more than $24M in ETH to a fresh Gnosis Safe address, 0xc06, over the last two months. The address first received 0.01ETH on 10th May, and has since received ETH in batches of 1K ETH, totalling up to 10K ETH, or $24.23M today. Interestingly, the address has also transferred 0.001ETH to a Vitalik Buterin address, vitalik.eth, just three days after its first deposit.

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While some have speculated the transfer of ETH as part of the preparation leading to a sale, some have highlighted the Ethereum Foundation’s latest treasury policy, which was released on 4th June 2025. The policy highlights a more calculated and transparent approach to selling ETH for expenses as well as a focus on utilizing battle-tested protocols for yield. Since its release, the Ethereum Foundation has not sent any significant amount of ETH to a centralized exchange. Additionally, the foundation has also recently deposited 45,000 ETH across various DeFi protocols such as Aave, Compound and Spark, which is expected to help with their operational expenses through generated yield.