The Ethereum Foundation has sold 100 ETH for 345,179 DAI just ahead of the spot Ethereum ETF debut. This move has sparked skepticism within the crypto community as it was unexpected before such a significant event.
Historically, the Ethereum Foundation has offloaded 2,366 ETH for 6.9 million DAI this year, with the last sale noted on July 2. The recent selloff by Ethereum Foundation-linked wallets raised concerns among investors, although the overall sentiment remains positive.
Spot Ethereum ETFs are set to go live, and significant trading activity is already noted in pre-market hours for Grayscale Ethereum Trust (ETHE) and BlackRock ETF (ETHA). The ETH price has risen by 0.50% in the past 24 hours, currently trading at $3,505, showing increased interest among traders.
This development underscores the strategic importance of institutional moves in the crypto market, especially ahead of major financial product launches like ETFs.
