ETH transfer worth millions: Is the Ethereum Foundation selling its reserves?
A massive ETH transfer is causing a stir in the crypto community: The Ethereum Foundation itself has moved Ethereum with an equivalent value in the multi-digit million range.
Values in this article
currency
3,113.8108 CHF 15.8678 CHF 0.51%
3,335.7267 EUR 18.2708 EUR 0.55%
£2,939.7756 14.7049 GBP 0.50%
595,502.4100 JPY 2,963.2443 JPY 0.50%
$3,867.2760 $19.3442 0.50%
0.0003 ETH -0.0000 ETH -0.51%
0.0003 ETH -0.0000 ETH -0.55%
0.0003 ETH -0.0000 ETH -0.50%
0.0000 ETH -0.0000 ETH -0.64%
0.0003 ETH -0.0000 ETH -0.50%
• Around 160,000 ETH worth $654 million were moved, according to Arkham Intelligence
• Rumors about possible sales and payments to developers are fueling the discussion
• The Foundation speaks of a planned wallet change as part of internal restructuring
Movement in the millions: On-chain data is causing a stir
The Ethereum Foundation moved around 160,000 Ether on October 21, according to data from blockchain analysis platform Arkham Intelligence. At the time of the transfer, the said amount of tokens had an equivalent value of around $654 million. The target of the transfer was a wallet that was previously used for token sales, as BTC-Echo reports.
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Such moves are seen in the industry as a signal that larger sales may be imminent. Despite the high sum, the Ethereum price remains surprisingly stable at around 3,852 US dollars (as of October 31, 2025) even a week after the transfer. The Foundation had recently made smaller transfers to promote DeFi projects or research. This time the dimension is much larger – and is causing discussions within the community.
Unrest after developer resignation: Are there internal tensions behind it?
The timing of the transaction is striking: just a few days earlier, long-time core developer Péter Szilágyi had announced his resignation. In an open letter, the long-time developer criticized the inadequate payment at the Ethereum Foundation. As BTC-Echo reports, Szilágyi earned around $625,000 before taxes in six years – a comparatively small sum given the market capitalization of around $464 billion (as of October 28, 2025).
Some market observers suspect, according to Be[in]Crypto that the recent ETH transfer could also be related to this debate. It is possible that part of the funds will be earmarked for bonus payments or reimbursements for long-standing developers. This has not yet been officially confirmed. The Foundation has so far failed to comment on the exact motives of the transaction.
Official statement: “Planned wallet change, no sale”
Hsiao-Wie Wang, Co-Executive Director of the Ethereum Foundation, finally provided some clarity. On X, she explained that the move was a “planned move” of Ether holdings. According to a report from CoinMarketCap, this move is part of an organizational reorganization that will see the Foundation modernize its security structures and management of its reserves.
According to Arkham Intelligence, the affected wallet had also been associated with exchange deposits in the past, but this time it was a routine process. Wang’s quick reaction to the emerging speculation is seen as an attempt to create transparency and reassure the community.
The market remains calm for the time being
As already mentioned, the market reaction remained manageable despite the huge transfer. According to BTC Echo, there were no major swings seen in either the spot market or DeFi trading volume. Analysts suspect that no further ETH movements have been observed on exchange addresses so far – a sign that the funds have not yet been sold.
Whether the Foundation has actually sold parts of its reserves or simply implemented security measures will become clear in the coming days. One thing is clear: the community will continue to follow the wallet closely.
Editorial team finanzen.net