The Ethereum Foundation announced it will convert 5,000 ETH into stablecoins to fund its research, grants, and donation activities. The swap, worth approximately $11 million at current prices, will use CoW DAO's time-weighted average price feature to execute the transaction.
The conversion follows a treasury management framework that the Ethereum Foundation published in June 2025, suggesting this move is part of a broader strategic shift in how the organization manages its assets. The foundation is using CoW DAO's trading mechanism, which is designed to reduce price impact and provide better execution for large trades.