Ethereum Foundation Reveals $970.2M in Assets, 81.3% in ETH, ETH Up 16.2% to $2,914

Nov 8, 2024, 08:49 AM

The Ethereum Foundation has released its 2024 financial report, revealing a total asset reserve of $970.2 million as of October 31, 2024. The majority of these assets, $788.7 million or 81.3%, are held in cryptocurrency, predominantly in Ethereum (ETH), which represents 0.26% of the total ETH supply. Notably, 99.45% of the crypto assets are in ETH. The remaining $181.5 million is invested in non-crypto assets. The Foundation has been actively managing its reserves by offloading ETH to maintain liquidity for future initiatives in public goods. Additionally, the Foundation allocated $32.1 million for Layer-1 research and development and $28.6 million for ecosystem grants. The report also notes that 50% of the Foundation's funding still comes from its own reserves. The value of ETH has increased by 16.2% this week, reaching $2,914, outperforming Bitcoin. The Foundation's treasury has shrunk by 39% over the past 2 1/2 years.