According to data from blockchain analytics platform Arkham Intelligence, the Ethereum Foundation ended staking for 21,271 ETH today, a move worth approximately $49.66 million. This action marks the second significant liquidity shift by the foundation within two weeks. With this operation, following its earlier completion of a cumulative 70,000 ETH staking target at the end of April, the organization has now withdrawn more than a third of that amount in a short span.
Shift in staking strategy
As a cornerstone of the decentralized application ecosystem, the Ethereum Foundation plays a pivotal role in protocol development and community funding. In early 2026, the foundation ramped up accumulation, staking 2,016 ETH in February and 22,517 ETH in March. Its latest April deposit brought the total staked amount to 70,000 ETH.
This aggressive accumulation represented a major shift from the foundation’s long-standing focus on asset sales. For years, it financed activities primarily by selling ETH, a strategy that often attracted community criticism. However, a policy update in June 2025 saw the foundation pivot away from ETH sales, turning instead to staking and decentralized finance (DeFi) income as its preferred funding model.
Today’s unstake transaction moved about 21,271 ETH—roughly 30 percent of the accumulated funds—back to the foundation’s wallet in a single action. According to on-chain data from NS3.AI, the foundation’s current Ethereum balance now stands at 103,731 ETH.
Second major withdrawal in May
Earlier in May, the foundation executed a different transaction, selling 10,000 ETH over-the-counter (OTC) to BitMine Immersion Technologies. With today’s unstake, the total amount of ETH withdrawn from the foundation this month has exceeded 31,000.
The foundation bases its treasury management on measuring how far its assets diverge from a set “reserve buffer,” determining the ETH to be sold in the following quarter accordingly. Foundation executives indicated that such sales and unstake actions are intended to fund research, operational expenses, and ecosystem grants.
It is important to note that unstaking does not directly equate to an immediate sale. Even so, the foundation’s move to unstake such a substantial sum shortly after completing its 70,000 ETH staking target has drawn attention from the community.
Uncertainty and price tension in the community
News of the stake’s conclusion triggered widespread discussion on the social media platform X (formerly Twitter). Community members raised questions about the timing and strategy, especially given the withdrawal of funds immediately after reaching the 70,000 ETH milestone.
Crypto analyst kirbycrypto highlighted that 30 percent of the 70,000 ETH staked just a month ago was suddenly pulled, sparking debate on whether the timing was appropriate.
Many users pointed to large player (whale) transfers to exchanges and the weakening ETH/BTC pair as contributing pressures in the broader market. Concerns have emerged that substantial withdrawals and sales by institutional wallets may further fuel price volatility.
Analysts and investors are closely monitoring blockchain data to see whether the unstaked ETH is being moved to exchange or OTC addresses. During the unstake, ETH was trading at about $2,331; in contrast, it hovered around $2,050 at the time of the April staking event. Data from CryptoAppsy shows ETH is currently priced at $2,336.85.
