The Ethereum Foundation has reached its 70,000 ETH staking goal, marking a significant shift in its treasury operations. The foundation deposited $93 million worth of ETH on April 3, transitioning from being a net seller to a yield generator.
This strategic move means half of the foundation's treasury is now staked, earning yield rather than being sold on the open market. This fundamentally alters the foundation's market impact, moving from a source of sell-side pressure to a passive holder.
Industry observers note that other protocol teams with substantial treasuries may adopt similar strategies, potentially leading to a further reduction in circulating ETH supply. The market appears to be pricing in Ethereum reaching $4,000 by April 30, with prediction markets showing 100% certainty for this outcome.