Ethereum Foundation Sells ETH Despite April Rally

Ether rose more than 10% in April to about $2,430 as the Ethereum Foundation carried out planned treasury sales in 2026. The nonprofit sold roughly 20,000 ETH so far this year to support development, research, grants and ecosystem funding under a Treasury Policy adopted in June 2025.

The Foundation executed a 5,000 ETH sale in early April, converting the tokens into about $11 million in DAI. It also completed a 10,000 ETH over-the-counter sale to Bitmine at an average price near $2,387, producing roughly $23.9 million. Total disbursements for 2026 total approximately 20,000 ETH and more than $45 million in proceeds. On-chain data from Arkham Intelligence shows the organization still holds about 92,500 ETH in its liquid treasury and roughly 53,000 ETH that is staked.

The Treasury Policy schedules periodic sales to keep fiat and stablecoin reserves equal to roughly 2.5 years of operating expenses. The Foundation expects staking rewards from its 53,000 staked ETH, with a gross annual yield currently estimated between about 2.7% and 3.8%, to generate about $4 million to $5 million a year at current prices, providing an ongoing income stream separate from sales.

Market measures indicate the Foundation’s transactions are small relative to overall activity. Individual sales of 5,000–10,000 ETH represent about 0.08%–0.25% of Ethereum’s average daily trading volume, which has been in the $10 billion to $12 billion range. On-chain metrics show the number of daily accumulation addresses-wallets that consistently buy and hold ETH-rose to 2,434 this week, while exchange-depositing addresses fell to 2,300.

Institutional flows have coincided with the sales. Spot Ethereum exchange-traded funds recorded three consecutive weeks of net inflows, bringing in more than $2 billion of new capital since early April.

Technical indicators show Ether forming a rising wedge pattern. If the price breaks below the wedge’s lower trendline near the apex around $2,580, applying the pattern’s geometry points to a downside target near $1,950, about 15% below current levels. A decisive break above the wedge’s upper trendline would invalidate that downside scenario and could shift focus toward the 200-day exponential moving average, near $2,630.

Scheduled treasury sales, ongoing ETF inflows and on-chain activity together affect Ether’s supply and demand. On-chain data and ETF flows indicate market liquidity at present is sufficient to absorb the Foundation’s planned sales, while staking rewards add a non-sale revenue source to the Foundation’s balance sheet.