Ethereum co-founder Vitalik Buterin has sold roughly 2,961 Ether, valued at about $6.6 million, over a three-day span after previously signaling plans to withdraw part of his holdings.
Blockchain tracking firm Lookonchain reported in a Thursday X post that the sales were executed at an average price of around $2,228 per ETH. At the time of writing, Ether was trading near $2,130, down more than 5% on the day, according to CoinMarketCap.
Data from Arkham Intelligence shows the ETH was sold via CoW Protocol using multiple smaller swaps rather than a single large transaction, a method typically used to minimize market impact.
Buterin Sets Aside $45M in ETH for Privacy and Open Infrastructure
Last week, Buterin said he had earmarked 16,384 ETH—worth roughly $45 million—from his personal holdings to fund privacy-preserving technologies, open hardware, and secure, verifiable software. He noted that the funds would be deployed gradually over the coming years as the Ethereum Foundation enters what he described as a period of “mild austerity,” while still advancing its technical roadmap.
Buterin said he is personally stepping in to handle responsibilities that would normally fall under special foundation projects, focusing on developing an open, secure, and verifiable technology stack across both software and hardware.
“Specifically, we are seeking the existence of an open-source, secure and verifiable full stack of software and hardware that can protect both our personal lives and our public environments.”
The Ethereum Foundation has previously drawn criticism for selling ETH to fund its operations, but has since looked at alternative approaches, including staking and decentralized finance–based strategies.
Market Sensitivity Rises Amid Uncertainty
Buterin’s sales come at a time of heightened market sensitivity toward large holders. Declining ETH prices have pushed leveraged Ether whales to sell holdings to repay loans, adding to broader selling pressure.
In an X post on Tuesday, Bitwise Chief Investment Officer Matt Hougan said the crypto market has been in a “full-blown crypto winter” since January 2025. “Chances are, we’re closer to the end than the beginning,” Hougan said.
