Ethereum Foundation Moves $610 Million in ETH to New Wallet

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The Ethereum Foundation just transferred more than 160,000 ETH, worth approximately $610 million, into a brand new multi-signature wallet. The group described the move as a planned, albeit pure, migration measure of the successful move many eyes. This is an important part of his treasury and, naturally, people are curious about what this means for the future.

Goodbye old setup, hello new secure wallet

The transition was not accidental. The foundation has confirmed that it is moving away from its old custom multisig wallet and is instead adopting the Safe Foundation wallet system. Earlier this year, it ran tests using a 3-of-5 multisig setup.

Once satisfied, the team he went ahead and brought THE rest of funds under the same structure. This change follows months of attempts with various DeFi tools, including Aave, Cowswap, and Morpho Finance.

The numbers are big, and so are the questions

While the foundation says it was just a routine upgrade, the timing and scale sparked much discussion. In June they shared a new plan this results in assignment approximately 15% of treasury funds each year to growth-related initiatives. Over time, that percentage would gradually drop to 5%. The portfolio shift seems to fit into this plan, but the specific timing and move to a new system suggests something more strategic it could happen.

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The DeFiPunk strategy is starting to show its cards

In the same June announcement, the foundation introduced a new vision called the “DeFiPunk” approach. The idea was to put more of the treasury to work in open DeFi protocols, keeping everything safe.

Moving funds into a secure wallet aligns perfectly with this approach. It appears the foundation is gearing up to become a more active player in the ecosystem, not just a silent supporter.

The ETH market and the push for more active use of the Treasury

The migration comes at an interesting time for ETH as well. Prices have recently pushed close to all-time highs, then retreated slightly. This type of volatility makes safe treasury management even more important.

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Safe’s infrastructure could help reduce risk on operating side. At the same time, spreading funds more widely through DeFi could help strengthen parts of the Ethereum ecosystem that don’t always get direct support.

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The one everyone will watch now

Now that the funds are in their new home, all eyes are on what happens next. Will we see ETH allocations shift into DeFi projects? How much transparency will the foundation offer? People will also be looking for signs of comebacks and whether this new strategy will impact the broader Ethereum network. As Treasury becomes more active, clear updates will likely be key to keeping the community on board.

Big steps forward for on-chain governance?

Changes like this don’t happen every day, especially not at this level. The Ethereum Foundation is doing more than just updating its wallet set; perhaps it is setting the tone for how other major players manage large treasuries on-chain. It remains to be seen whether this will inspire other DAOs or crypto foundations to rethink their strategies. But one thing is clear: it wasn’t just a technical issue update; it could mean the beginning of a more practical, transparent and experimental phase in crypto treasury management.

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Key points

  • The Ethereum Foundation has transferred over 160,000 ETH (worth $610 million) into a new multisig Safe wallet as part of a planned upgrade.

  • This move marks a shift away from the foundation’s old wallet system and aligns with its strategy of using more DeFi tools for treasury management.

  • The timing of the migration is tied to its “DeFiPunk” strategy, where more treasury funds are expected to be distributed through open DeFi protocols.

  • Ethereum’s price swings and treasury growth plans make safe and flexible fund management even more critical at this stage.

  • This wallet shift could influence how other large crypto foundations manage their treasuries, signaling a new era of active use of on-chain treasury.

The post Ethereum Foundation Transfers $610 Million in ETH to New Wallet appeared first on 99Bitcoins.

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