Ethereum Foundation offloads 10,000 $ETH via OTC at $2,292 — Bitmine is the buyer.

The Ethereum Foundation sold 10,000 ETH through an over-the-counter transaction at an average price of $2,292.15, with Bitmine acting as the counterparty. The deal totals roughly $22.9 million at the disclosed average.

Foundation OTC sales tend to attract scrutiny because they signal treasury management activity outside the open market — structured to minimise slippage but still representing a deliberate decision to reduce ETH holdings. With Bitmine named as the direct buyer, the transaction adds a corporate accumulation angle on the other side of the trade.

The timing and scale will likely fuel ongoing debate around Foundation selling pressure and its effect on ETH market sentiment.