Two wallets linked to Ethereum Foundation transferred 4,393 ETH to Kraken

Two wallets associated with the Ethereum Foundation transferred 4,393 Ethereum (ETH), valued at approximately $11.13 million, to the Kraken exchange on October 12, 2026. Although a transfer to an exchange does not necessarily indicate a sale, this event raises questions about potential sale plans. The wallets previously received 59,751 ETH from the Ethereum Foundation wallet about ten years ago, when the price of ETH was $0.90. According to analysts, over the past ten years, 49,751 ETH has been transferred from these wallets to Kraken at an average price of about $658. This is approximately 83% of the original amount, leaving 10,000 ETH remaining.

The transfers are not accompanied by statements from the Ethereum Foundation confirming a sale or the allocation of funds. While deposits may precede sales, there is no actual data on transactions or fund withdrawals. Analysts, such as EmberCN, raise questions about the nature of these transfers, not ruling out that they may be part of the foundation's regular asset management practices. Importantly, $658 is the market price at the time of the transfers, not the confirmed revenue from sales, and the historical connection of the wallet with the foundation does not equate to confirmation that the foundation authorized the latest transaction.

Ethereum was trading around $2,555 at the time of the transfer and gained approximately 2% over the day, but decreased by 6.85% over the week. Technical indicators show that ETH is below its nine-day moving average at $2,585, and the relative strength index remains below 50, indicating weaker momentum.

The Ethereum Foundation has previously reported on its fund management principles. In June 2025, the organization set a target annual expenditure level of 15% of treasury assets and a reserve buffer for 2.5 years of operating expenses, with a smooth transition to 5% over five years. This means that periodic sales of ETH may be part of the foundation's long-term asset management strategy, taking into account both internal expenses and external market changes. In April 2026, the foundation announced plans to sell 5,000 ETH through the CoWSwap platform, which distributes large orders over time.