The Ethereum Foundation (EF) has disclosed the details of its treasury holdings for the first time in its history. 

The non-profit organization supports the Ethereum ecosystem and holds approximately $1.6 billion worth of financial assets. 

As EF declared in its public financial report, the holdings are split between crypto and non-crypto investments. 

The vast majority of the assets, at $1.294 billion or 80.5% of the EF treasury, is held in Ether (ETH) coins, which represents nearly 0.3% of the total ETH supply as of the final day of March. The quantity, which includes 39,168 ETH worth an approximate $119 million USD, is already planned to be used for the client incentive program. 

“The EF believes in Ethereum’s potential, and our ETH holdings represent that long-term perspective,” read the report.

The non-profit also holds $11 million (or 0.7%) worth of assets in other digital currencies, though the report did not reveal which ones. 

Conservative Treasury Management

In the meantime, 18.8%, or $302 million of the Ethereum Foundation’s treasury consists of non-crypto investments and assets.

“The EF follows a conservative treasury management policy that ensures we have sufficient resources to fund the EF’s core objectives even in the case of a multi-year market downturn. This part of our budget is immune to changes in the price of ETH on a significant timeline”, explained the report.

The Ethereum Foundation has not specified which non-crypto assets it has in its disposition, however, in response to the rising Ether (ETH) prices, the EF has revealed plans to increase these holdings in order to maintain a higher level of safety.

Spent $48 Million in 2021

The EF similarly reported its 2021 spending, which consisted of nearly $48 million in total. 

As revealed, around $28 million was used to fund teams and projects within the Ethereum Foundation community. A major portion of this spending ($21.8 million) was dedicated to Layer 1 research and development. 

The foundation also spent close to $20 million for external purposes, which included grants, third-party fundings, bounties, sponsorship, and delegated domain allocations.

Ethereum, Ethereum Price Updates, Gas Fees & Updates, Ethereum FoundationRead More

You might also be interested in reading Bitcoin network’s carbon emission jumped 17% after China ban: Report.