Ethereum Foundation Launches Large-Scale ETH Staking, Plans to Lock 70,000 Coins

The Ethereum Foundation, a core organization within the Ethereum ecosystem, recently announced the launch of its cryptocurrency staking program. The foundation has chosen to partner with Bitwise Asset Management, utilizing its on-chain staking infrastructure to execute the operation. The initial deposit of 2,016 ETH marks the official start of the staking process. According to official plans, the foundation's ultimate goal is to stake approximately 70,000 ETH, estimated to be worth around $140 million at current market prices.

Currently, wallet addresses associated with the Ethereum Foundation hold ETH assets worth $418 million, of which $354 million is native ETH, and the remainder is cross-chain wrapped wETH. If the ETH price remains stable, the current annualized staking yield is 2.77%, meaning that the staking program could generate approximately $3.8 million in annual revenue for the foundation.

This move not only helps to enhance the security and decentralization of the Ethereum network but also reflects the foundation's strategic investment in long-term ecological sustainability.