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The Ethereum Foundation deposited 45,034 ETH, worth approximately $93 million, on Friday morning, bringing its total deposited holdings to nearly $143 million and nearing the bold deposit goal of 70,000 ETH set earlier this year.
It has been a rapid rise for the Ethereum Foundation, which only started staking in February, indicating a strategic shift toward earning yields from its treasury rather than disposing of its holdings.
Ethereum Foundation Locks in 69,500 ETH
The deposit amount of 45,034 ETH was divided into equal payments of 2,047 ETH each—worth around $4.23 million per payment—and transferred from the foundation’s multi-signature treasury wallet to an Eth2 Beacon Chain deposit contract, according to data tracked by Arkham Intelligence.
Thursday’s deposits raised the Ethereum Foundation’s total deposited holdings to approximately 69,500 ETH (worth around $143 million). With current institutional staking yields ranging from 2.7% to 3.8% annually, the foundation could generate annual returns estimated between $3.9 million