Ethereum Foundation sold 10,000 ETH before the price peak

SharpLink Gaming acquired 10,000 ETH from the Ethereum Foundation (EF) in a private over-the-counter deal on July 10 for $25.7 million.

NEW: SharpLink has acquired 10,000 $ETH directly from the Ethereum Foundation

The purchase closed at ~$25.7M, with $ETH acquired at an average price of ~$2,572

Ethereum is entering a new era of institutional relevance, and we’re proud to support its long-term strength and… pic.twitter.com/ow1e2PXQ1W

— SBET (SharpLink Gaming) (@SharpLinkGaming) July 11, 2025

The average purchase price of the coins was $2572.37.

On July 11, the quotes of the second largest cryptocurrency by market capitalization exceeded the $3000 mark for the first time since February. At the time of writing, the asset is trading at levels near $2965 (CoinGecko).

EF will direct the received funds to finance its core activities.

"At a time when Ethereum is entering a new era of institutional significance, we are proud to support the long-term sustainability of the network and its mission of decentralization," said SharpLink chairman Joseph Lubin.

According to him, the company sees the deal as "a commitment within the framework of long-term goals." SharpLink places all acquired coins in staking and restaking, removing them from circulation and strengthening the Ethereum ecosystem, noted Lubin.

Lookonchain specialists noted that on July 11, a wallet associated with EF sold 1210 ETH for 3.5 million USDC at an average price of ~$2890. The head of the organization, Xiao Wei-Wang, clarified that the assets were sold by a recently separated group, Argot Collective.

Just to clarify: This was EF's recent spin-out @argotorg

Read more:

— hww.eth | Hsiao-Wei Wang (@hwwonx) July 11, 2025

Recall that in March, CoinGecko analysts assessed the impact of EF sell-offs on the dynamics of cryptocurrency prices.