The Ethereum Foundation has selected infrastructure developed by Bitwise Asset Management to power a large-scale treasury staking initiative that could see roughly 70,000 ETH—worth about $140 million at current prices—deployed to the network.
The move marks one of the most significant treasury allocations by a core blockchain organization since Ethereum transitioned to proof-of-stake. The foundation has already initiated the program with an initial deposit of 2,016 ETH, with plans to gradually scale the stake over time.
Bitwise confirmed that its dedicated staking division, Bitwise Onchain Solutions, is responsible for developing and maintaining the open-source tools that will underpin the operation.
If fully executed, the initiative will convert a portion of the foundation’s treasury into a yield-generating position while simultaneously strengthening the security and decentralization of the Ethereum network.
Key Takeaways
- The Ethereum Foundation plans to stake up to 70,000 ETH, worth about $140 million, as part of a major treasury deployment strategy.
- Open-source staking tools Dirk and Vouch, developed by Attestant and now maintained by Bitwise Asset Management, will power the foundation’s validator infrastructure.
- An initial 2,016 ETH has already been deposited, marking the first phase of the foundation’s gradual rollout toward its full staking target.
- Staking rewards generated from the deployment will be directed back to the foundation’s treasury to support research, ecosystem grants, and core Ethereum development.
- Direct validator participation using distributed signing and multi-client infrastructure aims to improve network security while preventing centralization of staking power.
Turning Treasury Holdings Into Productive Assets
The staking program stems from a treasury management framework introduced by the Ethereum Foundation in June 2025. The policy established guidelines for how the organization should deploy its assets while maintaining long-term financial stability.
Under the framework, the foundation aims to keep annual operating expenses at roughly 15% of its total treasury while maintaining at least a 2.5-year operational runway. Staking was identified as the first step toward achieving these goals.
Rewards earned from validator participation will flow back into the foundation’s treasury and will help fund:
- Protocol research and development
- Ecosystem grants
- Core Ethereum infrastructure and operations
By staking its holdings rather than leaving them idle, the foundation can generate steady revenue while contributing directly to the network’s consensus mechanism.
Open-Source Infrastructure From Bitwise
To support the initiative, the Ethereum Foundation chose Dirk and Vouch, two open-source tools originally developed by the staking infrastructure company Attestant, which Bitwise acquired in 2024.
The acquisition brought approximately $3.7 billion in staked assets under management under Bitwise’s umbrella and integrated the Attestant team into its onchain solutions division.
The two tools perform distinct roles in the staking setup:
- Dirk operates as a distributed key-signing system that spreads validator signing responsibilities across multiple machines and geographic regions. This approach removes a single point of failure and protects the system if one node becomes compromised.
- Vouch coordinates validator clients and manages multiple execution and consensus client pairings. Its design helps reduce the risk associated with client concentration—an issue that could threaten the network if a dominant software client were to experience a critical bug.
Both tools are publicly available and maintained as open-source infrastructure for the broader Ethereum ecosystem.
Sreejith Das, head of on-chain solutions at Bitwise and co-founder of Attestant, said the foundation’s adoption validates the design goals behind the software.
Bitwise Chief Technology Officer Hong Kim also described the decision as a milestone for the firm.
A Focus on Decentralization and Security
Beyond treasury efficiency, the staking strategy reflects the Ethereum Foundation’s broader commitment to decentralization.
Rather than delegating funds to a single external staking provider, the organization plans to participate directly in network consensus through validator nodes. This approach helps avoid concentrating influence in one operator while maintaining control over its infrastructure.
The foundation’s treasury policy also emphasizes what it describes as “DeFi punk” principles, which prioritize:
- Open-source infrastructure
- Permissionless participation
- Privacy-respecting technology
Solo staking using Bitwise’s tools meets those requirements while allowing the foundation to operate validators independently.
Strengthening Client Diversity
Another goal of the initiative is improving client diversity, a critical security factor in proof-of-stake networks.
If too many validators run the same software client, a bug could potentially cause widespread disruptions or slashing events across the network. Using a broader set of clients reduces the likelihood that a single flaw could impact a majority of validators.
The foundation’s deployment—combined with the use of Vouch’s multi-client coordination—adds further diversity to the validator ecosystem.
By distributing validator operations and signing responsibilities across multiple systems and locations, the staking infrastructure also improves resilience against outages or cyberattacks.
Institutional Staking Continues to Grow
The partnership also highlights growing institutional interest in professional staking infrastructure.
Asset managers, crypto funds, and large token holders increasingly view staking as both a yield opportunity and a way to contribute to network security. Infrastructure providers like Bitwise have expanded offerings aimed at institutions that require higher levels of reliability, compliance, and operational safeguards.
For Bitwise, the Ethereum Foundation’s adoption serves as a high-profile validation of its staking technology following the Attestant acquisition.
For Ethereum, the program signals a deeper alignment between the network’s core developers and its economic security.
A Long-Term Commitment to the Network
The Ethereum Foundation has not disclosed a precise timeline for deploying the full 70,000 ETH, but the process is expected to roll out gradually as the system is monitored and scaled.
The initial 2,016 ETH stake functions as an operational starting point, allowing engineers to evaluate performance and infrastructure stability before expanding the deployment.
Once fully implemented, the staking program will represent one of the largest validator commitments made by a core development organization within the Ethereum ecosystem.
Beyond generating revenue for research and grants, the initiative demonstrates the foundation’s long-term confidence in Ethereum’s proof-of-stake model—and its willingness to actively participate in securing the network it helps maintain.
