Ethereum Foundation Sales Grab Headlines, but the Real ETH Selling Is 87x Bigger

A wallet linked to the Ethereum Foundation sold 2,000 Ethereum (ETH), worth about $3.87 million, on Friday. The wallet has now sold 6,785 ETH since October 26. ETH now trades close to where its mid-August rally began. Yet the wallet’s sales look small next to the money leaving US spot Ethereum exchange-traded funds. The Foundation-Linked Wallet Is Down to 11,000 ETH On-chain tracker Lookonchain flagged Friday’s sale on X. The wallet placed two 1,000 ETH orders through CoW Swap, minutes apart. It sold 2,785 ETH, worth $6.42 million, on October 26, then two batches of 1,000 ETH earlier this week. The wallet now holds about 11,000 ETH, worth roughly $21.3 million at current prices. Lookonchain tied recent Foundation-linked sales to fresh ETH drops.

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