The Ethereum Community Foundation has now been officially established, aiming to drive up the price of ETH

On July 2nd, according to The Block. Based on an announcement made by Ethereum core developer Zak Cole on the X platform, a new organization named the Ethereum Community Foundation (ECF) has been set up. Its purpose is to support the institutional adoption of Ethereum infrastructure and ultimately boost the price of ETH. Cole stated that the organization has currently raised millions of dollars' worth of ETH, which will be utilized to support projects building "trust-neutral" technology. He said, "Our treasury is already filled with ETH donated by individual supporters." ECF declared on its official website: "All supported integration projects must facilitate the destruction of ETH. This mechanism aligns institutional usage with the value of ETH holders. By giving priority to supporting mechanisms that reduce the supply of ETH, we ensure that adoption behavior strengthens the monetary integrity of the network." In addition, all projects supported by ECF must meet two criteria: "immutable" and "tokenless." The foundation is especially focused on application projects that tokenize real-world assets (such as stocks, bonds, real estate, etc.) and will also provide funding for projects that contribute to "public goods," including addressing the data availability (blob space) price imbalance issue. Cole stated: "Project funding allocations will be determined through community voting." He also noted that "all funding decisions and discussions will be 100% publicly transparent." At the Ethereum community conference held in Cannes, France, he emphasized: "Every grant is public. Every project commits to aligning with ETH. Every dollar will drive up the value of ETH." According to Cole's speech, ECF's first project is the "Ethereum Validator Association (EVA)," which aims to give network validators more influence in protocol development by using staked ETH to express preferences. EVA will also finance the construction of validator infrastructure. It is currently unclear which organizations or individuals are supporting the foundation's operations. Cole mentioned that more details will be disclosed in the coming weeks.