Ethereum Foundation to sell 5,000 ETH to fund R&D, grants and donations

The Ethereum Foundation plans to convert 5,000 ETH, about $11 million to fund R&D, grants and donations, using CoWSwap’s time-weighted average price (TWAP) tool. The foundation announced the sales will be executed in multiple tranches of just under $1 million. Funds are being moved from a wallet labeled Ethereum Foundation DeFi Ecosystem, the same address that received a 50,000 ETH deposit in January 2025. The announcement was made late last night.

TWAP averages a token’s price over a set time window. On CoWSwap, TWAP orders allow large holders to split a sale into smaller slices rather than placing a single block trade. The foundation last used TWAP in October when it sold 1,000 ETH for roughly $4.5 million.

Market indicators show low market sentiment: the Fear & Greed Index is 14, a reading classified as extreme fear. Technical indicators currently list 13 bullish signals and 20 bearish signals. Ether has been trading in a narrow band between about $2,100 and $2,200.

Volatility over the past month is about 3.73%, and 63% of trading days were positive during that period. Some analysts place a near-term upside range at $2,450 to $2,650 if upward momentum resumes. Some models project that a break below $2,000 could allow declines toward $1,200 in certain scenarios. One-month projections from some forecasters place Ether near $2,600.

Market participants will watch whether Ether holds the $2,100 support level and clears resistance near $2,175 in the coming days as the TWAP program runs.