Ethereum Foundation Completes $93 Million ETH Staking Target
- The Ethereum Foundation staked approximately $93 million in ether (ETH) on Thursday, reaching a total of around $143 million.
- The total deposit consisted of 45,034 ETH, divided into chunks of 2,047 ETH each, sent to the Eth2 Beacon Chain deposit contract.
- At a price of $2,059 per ETH, the total staked position equates to about 69,500 ETH, nearing the foundation’s commitment of 70,000 ETH announced in February.
- The foundation’s portfolio now holds approximately $270.9 million in assets across various addresses, with over $210 million in ETH alone.
- Current staking rates could yield between $3.9 million and $5.4 million annually for the foundation.
By staking its ETH, the Ethereum Foundation aims to generate rewards that support research and operations without needing to sell its holdings. This approach marks a shift from previous strategies that involved selling ETH, which had negatively impacted valuations.
With this latest stake bringing its total close to the target of 70,000 ETH, the foundation still retains over 100,000 unstaked ETH. The completion of this target reflects a strategic move towards a more productive treasury model.
