Blockchain data show a wallet linked to the Ethereum Foundation exchanged 1,210 ether for 3.496 million USDC on 11 July, implying an average price of about $2,889 per token. The sale follows a series of transfers that moved roughly 21,000 ETH from Foundation-controlled addresses over the past month. Co-executive director Hsiao-Wei Wang said the transaction was executed not by the Foundation itself but by Argot Collective, a nonprofit development group that spun out of the organisation. She added that the divestment formed part of Argot’s independent treasury operations. The movement is the first sizeable disposal since the Foundation unveiled a new treasury-management framework on 4 June, signalling a shift from a pure buy-and-hold stance toward periodic sales, staking and other on-chain strategies aimed at diversifying reserves and funding development. Ether briefly traded above $3,000 for the first time since February on the same day, and market participants said the modest scale of the sale is unlikely to affect liquidity in the $370 billion asset.