Two wallets associated with the Ethereum Foundation recently transferred 4,393 ETH to the Kraken exchange. The value of this transaction is estimated at approximately $11.13 million. Onchain data indicates that these specific wallets originally received 59,751 ETH from the foundation about a decade ago, when the asset price was $0.90.
According to analytics from Lookonchain, a total of 49,751 ETH from this initial allocation has been moved to Kraken over the last ten years. The average price at the time of these historical transfers was $658. Following the latest deposit, approximately 10,000 ETH remains from the original batch, though its current location is not specified in the reports.
While the transfer has prompted market speculation regarding a potential sell-off, there is no official confirmation that the assets have been liquidated. The Ethereum Foundation maintains a policy established in June 2025, which targets annual spending of 15 percent of its treasury. The foundation periodically evaluates its holdings to determine if and how much ETH to convert into fiat currency.
