Ethereum Foundation discloses $1.3B held in Ether, $300M in non-crypto bets

The Ethereum Foundation, the company behind the Ethereum (ETH-USD) network, has disclosed its treasury was standing at approximately $1.6B as of March 31, according to a report Tuesday. Specifically, it's holding $1.3B in Ether (ETH-USD), which represents 0.297% of the total ETH supply. The foundation also had $300M in non-crypto investments, though it didn't specify what exactly they consisted of, according to a report Tuesday. And on a much smaller scale, 0.7% of its stash was held in other cryptocurrencies. In addition, the company spent $48M in 2021, primarily in research and development-related expenses. "We also increase our non-crypto savings in response to rising ETH prices, which provides a greater safety margin for our core budget and would enable us to continue funding non-core but high leverage projects through a market downturn," the report said. Previously, (April 11) Ether accelerated its move to Proof-of-Stake after its shadow fork launch.