Ethereum Foundation has just sold 100 ETH, according to a transaction on Tuesday. The move raises eyebrows in the crypto community as the foundation sold the crypto asset just before the spot Ethereum ETF listing and trading today. Traders didn’t respond immediately to the selloff by the foundation.
Ethereum Foundation Wallets Offloading ETH
It’s a huge week for Ethereum and ETH with the spot Ether ETFs set to go live today. However, Ethereum Foundation-linked wallets are selling the crypto asset ahead of ETF launch.
In a significant development on July 23, Ethereum Foundation sold 100 ETH for 345,179 DAI. Notably, the transaction came just before the start of spot Ethereum ETFs trading today. Traders look out for further cues as institutions continue to send ETH to crypto exchanges or other wallets.
As per on-chain data platform Spot On Chain, Ethereum Foundation has sold 2,366 ETH for 6.9 million DAI stablecoin this year. The last Ether selloff by the foundation was noted on Jul
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