The Ethereum Foundation plans to convert about 5,000 ether into stablecoins to secure funds for operating costs and grant programmes. It will sell ether gradually using CoWSwap\'s time-weighted average price function to reduce market impact, targeting about $11 million. The move follows earlier TWAP sales and reflects a broader shift toward DeFi operations and staking alongside sales and over-the-counter deals. The foundation continues to hold substantial ether and stablecoin assets.

The Ethereum Foundation doubled the amount of ether it has put into staking in a single day, depositing a total of 47,050 ETH, The Block reported on Thursday, citing Arkham Intelligence data. The total exceeds two-thirds of the foundation’s 70,000 ETH goal. The foundation has rapidly increased its staking holdings in less than two weeks, and the staked amount is worth about $96.6 million.