Ethereum’s steward moved part of its crypto coffers this week, converting a chunk of ETH into stablecoins as it adjusts how it funds projects and grants.

Foundation Moves To Stablecoin Holdings

According to reports, the Ethereum Foundation converted 1,000 ETH into stablecoins using the decentralized trading router CoW Swap, a transaction worth about $4.5 million at the time.

The move was executed as part of the foundation’s ongoing treasury actions and was presented as a step to secure more predictable funds for research, grants, and donations. The specific stablecoin or coins received in exchange were not publicly named in initial reports.

The Foundation’s treasurer has been managing a broader plan. Reports have disclosed a previously stated intention to convert up to 10,000 Ether

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