Ethereum Foundation converts 1,250 ETH into $2.80M DAI per Arkham on-chain data, ending staking activity weeks after a record $46M single-day stake.
The Ethereum Foundation just converted 1,250 ETH into $2.80 million in DAI. Arkham flagged the transaction on X, pulling the data straight from the chain. No statement came from the foundation before the sale hit the radar.
That part alone is worth paying attention to. But what Arkham also said is the part that changes the story.
According to Arkham, on X, the Ethereum Foundation has stopped staking ETH entirely and has started selling. Two separate policy shifts, flagged in the same post, with no public explanation attached to either.
Staking Stopped. Now This.
The reversal is sharp, given what happened just days prior. The foundation had just locked more than 22,000 ETH into the Beacon Chain deposit contract, its largest single-day staking move on record. That transfer, worth roughly $46M at the time, had been positioned as part of a yield-generating treasury plan. Staking was supposed to reduce sell pressure. That calculus appears to have shifted.
The 1,250 ETH sold in this latest transaction works out to about $2,240 per token. That is above the $2,042.96 average the foundation received in March when it sold 5,000 ETH via OTC to BitMine for 10.38 million dollars. Better rate this time. Different structure too.
Choosing DAI instead of an OTC buyer keeps the sale off public order books. It avoids placing direct downward pressure on exchange prices. Still, 1250 ETH exiting as a stablecoin signals the foundation wanted a liquid, dollar-pegged value fast.
The Pattern Behind the Sales
This is not a one-off. The foundation has sold ETH periodically for years to fund operations, developer grants, and research. What is different here is the staking reversal. Those 22,517 ETH were staked to earn validator rewards while keeping the asset. Unstaking and selling DAI instead points to a different priority.
Arkham’s post did not detail a reason. The foundation has not commented publicly. What on-chain data confirms: 1,250 ETH gone, $2.8M in DAI received, and staking activity at zero.
The broader treasury context matters here. After the March OTC deal with BitMine, the foundation still held over 147,000 ETH in its wallets, valued at around $302 million at that point. A 1,250-token sale does not dent that meaningfully. But combined with a full staking halt, the direction of treasury management looks different from what it did a month ago.
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