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The ethereum Foundation has revealed its 2024 financial report, outlining its dedication to keeping the “vast majority” of treasury in eth.
ethereum (eth) makes up almost the entire treasury of the ethereum Foundation, and the non-profit organization revealed in its latest financial report that 99% of its $788.7 million in cryptocurrency holdings are held exclusively in eth.
In its 27-page report, the foundation revealed that as of October 31, it had approximately $970.2 million in assets, with $788.7 million in cryptocurrencies and $181.5 million in “non-crypto assets and investments.”
“We choose to keep the majority of our treasury in eth. “The EF believes in the potential of ethereum and our eth holdings represent that long-term perspective.”
The ethereum Foundation
Addressing recent eth sales, the organization said its goal is to fund “important public goods for the ethereum ecosystem for years into the future.” That's why the organization decided to pursue a “conservative treasury management policy” which it says should ensure the organization has sufficient resources “even in the event of a multi-year market downturn.”
“This requires selling eth periodically to ensure sufficient savings for future years and programmatically increasing our fiat savings in bull markets to fund spending in bear markets.”
The ethereum Foundation
The report also outlined 2023 spending, showing that the largest portion – 30.4% (or $32.1 million) – was allocated to Tier 1 research and development initiatives, followed by 27.1% (or $28.6 million), aimed at funding new institutions, a category that includes grants that support organizations dedicated to the ethereum ecosystem.
Meanwhile, eth has shown solid performance, posting a 16.2% gain over the past week, outperforming bitcoin (btc)'s 9.4% gain. At press time, eth is trading at $2,914, down 40% from its all-time high of $4,890.
