Ethereum Foundation holds US$ 1.6 billion in assets, 80.5% in ether

The foundation in charge of supervising the funding and development of the Ethereum network published its first financial report.
April 13, 2022 - Cynthia Chung

The Ethereum Foundation released its first financial report, revealing that its treasury currently holds US$ 1.6 billion in Ethereum, US$ 300 million is non-crypto assets and investments, and a further US$ 11 million in other cryptocurrencies.

Ethereum Foundation (EF) is a non-profit that supports the Ethereum blockchain network and provides tools for organizations, individuals and companies that fund protocol development, community growth.

As per the report, the EF spent US$ 48 million to cover grant spending, layer-one research and development, which includes the Ethereum mainnet upgrade in 2021.

 

US$9.7 million was spent on core protocol communities, including Next Billion, Devcon, Ethereum.org and more. 

 

While US$21.8 million went towards layer-one research and development (R&D) related to mainnet upgrades, US$1.9 million went towards layer 2 R&D for education resources, stress tests and monitoring tools.  

 

Ethereum Foundation holds US$ 1.6 billion in assets, 80.5% in ether

The Ethereum Foundation treasury currently holds US$1.6 billion in Ethereum, US$ 300 million is non-cryp assets and investments, and a further US$11 million in other cryptocurrencies at the end of March 2022 according to its 2022 financial report. 


The foundation also revealed that in this period, 99.1% of their crypto holdings were in ether, representing nearly 0.297% of the total ether supply. 

 

Ethereum Foundation (EF) is a non-profit that supports the Ethereum blockchain network and provides tools for organizations, individuals and companies that fund protocol development, community growth.

Ethereum spending

In 2021, the EF spent US$ 48 million to cover grant spending, layer-one research and development, which includes the Ethereum mainnet upgrade.

As the foundation grows, the EF has been allocating grant funding to third parties, with US$19.6 million approved last year. One of these organizations is 0xPARC, to which the ET provided a major grant in 2021 to support its own activities.“[We believe] that more decentralized funding is important for the future of the Ethereum ecosystem,” Aya Miyaguchi wrote in the report. “We continuously try to allocate resources to third parties that we believe can make better decisions than us within certain domains.”

 

US$ 9.7 million was spent on core protocol communities, including Next Billion, Devcon, Ethereum.org and more. 

 

While US$ 21.8 million went towards layer-one research and development (R&D) related to mainnet upgrades, US$ 1.9 million went towards layer 2 R&D for education resources, stress tests and monitoring tools.  

 

Photo: Ethereum Foundation

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