Ethereum Foundation’s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

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Ethereum Foundation’s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether – The Ethereum Foundation (EF) released a financial report on Monday, revealing that it presently has $1.6 billion in its treasury. Cryptocurrencies account for $1.3 billion of the Treasury’s holdings, while the balance is made up of non-crypto investments and assets.

The Ethereum Foundation is a non-profit organization dedicated to promoting the Ethereum ecosystem’s development. According to the newly released EF April 2022 report, the EF supports the Ethereum ecosystem in a variety of ways.

EF builds teams dedicated to enhancing Ethereum and the network’s ecosystem – the non-profit also funds initiatives outside of the core EF teams with grants; it controls delegated domain allocation and it employs third-party funding strategies.

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The April 2022 report outlines the Ethereum Foundation’s treasury and financials after describing what it is and what it does. The EF now has $1.6 billion in its treasury, with $1.3 billion made up of digital currencies like ethereum (ETH).

In fact, according to the EF report, ether accounts for 80.5 percent of the foundation’s crypto holdings, or 0.297 percent of the total ether supply. EF claims that it allocates a “conservative treasury” that is “immune to swings in the price of ethereum” even during multi-year crypto market downturns.

The non-profit is holding so much ether because it shows its belief in Ethereum’s future potential, and the assets represent that long-term vision, according to EF.

According to the EF report, the non-profit spent roughly $48 million last year, with $20 million of that going to external spending like grants.

Also Read: Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments

Ethereum Foundation’s Financial Report Discloses It Holds $1.6 Billion in Assets – The remaining funds were used to support Ethereum-based teams and initiatives. Layer one (L2) R&D,  Layer one (L1) research and development (R&D), community development, applied ZK research, and internal operations expenses were all divided up into several areas.

The Ethereum Foundation is one of many organizations that keep ether in a treasury. According to the research, 12 different corporations owned about $700 million in ethereum on their balance sheets.

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