The Ethereum Foundation staked approximately $93 million in ether (ETH) on Thursday in multiple batches, bringing its total position to approximately $143 million and nearly meeting the 70,000 ETH stake target announced in February, according to Arkham data.
The total deposit of 45,034 ETH was divided into uniform chunks of 2,047 ETH, each worth approximately $4.23 million, sent from the foundation’s treasury multisig to the Eth2 Beacon Chain deposit contract.
At approximately $2,059 per ETH, the total staked position of $143 million equates to approximately 69,500 ETH, close to the total stake of 70,000 ETH.
The foundation has gradually moved closer to the goal since February, starting with an initial deposit of 2,016 ETH and adding around 20,470 ETH on Monday. Thursday’s batch covered the remaining balance in one fell swoop.
The foundation portfolio tracked by Arkham features total assets of approximately $270.9 million across 14 addresses, with ETH being the dominant holding with approximately 102,400 ETH ($210.9 million). Smaller positions include USDC, BNB, and a fraction of bitcoin.
Yield income
Staking is the process of locking up cryptocurrency to help secure a blockchain and earn rewards. It’s like buying bonds and lending money to the government in exchange for fixed income returns.
At current staking rates, the position would generate approximately $3.9 million to $5.4 million per year in the 2.7% to 3.8% APY range typical for institutional bettors. With MEV-boost, yields could be higher.
This is modest compared to the foundation’s annual operating expenses, which historically amount to nearly $100 million, but it converts dormant cash into productive cash without selling ETH.
Why stake out?
The Ethereum Foundation puts its ETH to use for staking, earning rewards that help fund research, grants, and operations, all without the need to sell its coins, creating a long-term self-sustaining treasury.
This replaces the previous model in which the foundation resorted to ETH sales which weighed on valuations. The foundation has been criticized for this until 2024 and early 2025.
With staking, the foundation gains yield. This change does not completely eliminate the need to sell, however.
At the same time, reaching the 70,000 ETH target does not mean staking is over. The foundation still holds over 100,000 unpledged ETH. Whether it will expand the program beyond the initial commitment or keep the remainder as cash reserves has not been announced.
Ether was trading at $2,059 at filing time, down about 4.3% over the past week.
