The Ethereum Foundation’s November 8, 2024, financial report unveiled a treasury valued at $970.2 million, with 99% of its crypto assets in ETH. The report showcases the Foundation’s dedication to Ethereum’s ecosystem through careful financial strategies, grants, and support for key projects.
Ethereum Foundation Holds 0.26% of ETH Supply
With $788.7 million in cryptocurrency holdings and $181.5 million in non-crypto investments, the Foundation’s crypto reserves represent 0.26% of ETH’s total supply, underlining its commitment to Ethereum’s long-term success. The Foundation mitigates volatility by converting ETH to fiat during bullish markets, ensuring operational continuity and project funding even during downturns.
Strategic Spending and Future-Ready Initiatives
In 2023, the Foundation allocated $32.1 million (30%) to layer-1 tech development and $28.6 million (27.1%) to institutions advancing Ethereum. Executive Director Aya Miyaguchi noted, “EF’s long-term thinking keeps us focused on sustaining an open ecosystem.”
ETH recently rose near the $3,000 mark, gaining 16.1% over the past week and outperforming Bitcoin’s 8.4% rise.
Ethereum’s Operational Focus and Key Teams
The Foundation’s structure includes dedicated teams like the Robust Incentives Group (RIG), focusing on ecosystem incentives, and the Protocol Support team, ensuring network stability. The Devcon team facilitates community events, fostering Ethereum innovation.
Grant funding supports impactful projects like Argot Collective, Geodework, and L2BEAT, with each grant closely monitored to drive meaningful advancements.
Mekong Testnet and the Road to Pectra
Following the Prague and Electra upgrades, the Foundation recently launched the Mekong testnet, a critical step toward the 2025 Pectra upgrade, which aims to enhance scalability, security, and efficiency across the Ethereum network.
Visit CentBit.Online—Bangladesh’s leading crypto and blockchain resource—to stay updated on Ethereum and other key blockchain developments.