The Ethereum Community Foundation has now officially been established, aiming to promote the rise in the price of ETH.

On July 2, The Block reported that a new organization called the Ethereum Community Foundation (ECF) has been established, according to Ethereum core developer Zak Cole's announcement on the X platform. The foundation aims to support institutional-level adoption of Ethereum infrastructure and ultimately drive up ETH prices. Cole stated that the organization has currently raised millions of dollars worth of ETH, which will be used to support projects that build 'trustworthy and neutral' technology. 'Our treasury already has ETH donated by individual supporters,' he said. ECF wrote on its official website: 'All supported integration projects must promote the destruction of ETH. This mechanism aligns institutional usage with the value of ETH holders. By prioritizing mechanisms that reduce ETH supply, we ensure that adoption behavior reinforces the monetary integrity of the network.' Moreover, all projects receiving ECF support must meet two conditions: 'immutable' and 'tokenless'. The foundation is particularly focused on application projects that put real-world assets (such as stocks, bonds, real estate, etc.) on-chain, while also funding projects that contribute to 'public goods', including addressing issues of data availability (blob space) price imbalances. Cole stated, 'Funding allocation for projects will be determined by community voting,' and pointed out that 'all funding decisions and discussions will be 100% open and transparent.' He emphasized at the Ethereum community conference in Cannes, France, 'Every grant is public. Every project commits to align 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 voice in protocol development, using staked ETH to express preferences. EVA will also fund the construction of validator infrastructure. It is currently unclear which organizations or individuals are supporting the foundation's operations. Cole stated that more details will be announced in the coming weeks.