Ethereum Community Foundation raises ‘millions’ to drive value to ETH by funding ‘immutable and tokenless’ projects

The Ethereum ecosystem is getting additional support from a newly launched organization called the Ethereum Community Foundation, according to an announcement from Zak Cole on X. The foundation’s mandate is to support the institutional adoption of Ethereum infrastructure and, ultimately, drive up the price of ETH.Cole told The Block in a direct message that the organization has so far raised millions of dollars worth of ETH, which will be distributed to projects building credibly neutral tech. "We already have a treasury that consists of eth contributed by individual supporters," he said."All supported integrations must contribute to ETH burn. This aligns institutional throughput with ETH holder value. By prioritizing mechanisms that reduce ETH supply, we ensure that adoption strengthens the monetary integrity of the network," the project wrote on its website.Every project the ECF backs must also be "immutable and tokenless."In particular, the foundation is looking to back real-world asset applications that bring stocks, bonds, real estate, and other assets onchain. It will also look at projects contributing to “public goods,” including fixing mispriced blob space."Coin voting will dictate grant distribution," Cole said, noting that "all funding decisions and discussions [are] 100% transparent."“Every grant is public. Every project commits to ETH alignment. Every dollar moves the number,” Cole said in an address at the Ethereum Community Conference in Cannes, France.According to Cole’s presentation, the ECF’s first initiative will be the so-called “Ethereum Validator Association,” which aims to give network validators “a say in development” using staked ETH to signal their preferences. The EVA will also fund validator infrastructure.It is unclear who currently supports the effort. Cole noted that additional information will come out in the coming weeks.The Ethereum Community Foundation is being launched amid a period of reorganization for the Ethereum ecosystem, including a dramatic executive shakeup at the Ethereum Foundation and the formation of Etherealize, an institutional marketing and product firm led by Vivek Raman and former EF developer Danny Ryan.After losing market share to competitors like Solana, Ethereum’s spiritual leaders are attempting to transform the network’s public image as well as redirect attention toward the Ethereum mainnet, rather than its ecosystem of Layer 2s. As part of its mandate, the Ethereum Community Foundation will also interact with governments, regulators, and policymakers."We hoped the EF would course correct, they didn't," Cole said. "So we’re stepping up. We fund projects that burn ETH. We enforce immutability. We reject token games. We align incentives. We show up where Ethereum [Foundation] is missing. This isn’t a fork in the code, it’s a fork in priorities."Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.