The Ethereum Community Foundation (ECF) was announced by core developer Zak Cole at the Ethereum Community Conference in Cannes, France, on July 1, 2025, in response to the Ethereum Foundation's perceived neglect of ETH as an asset class.

Cole's initiative aims to advocate for Ether's price to reach $10,000 by funding projects that enhance Ethereum's ecosystem without issuing new tokens.

The ECF plans to provide grants for initiatives that promote ETH burning mechanisms, public goods, and core infrastructure improvements to increase ETH's value.

The foundation has reportedly raised millions to support its initiatives, signaling strong community interest and backing.

Funding decisions will involve coin voting, allowing the Ethereum community to participate in grant allocation processes, ensuring transparency regarding treasury movements and project milestones.

One of the ECF's initial initiatives is the Ethereum Validator Association (EVA), which aims to empower validators by allowing them to signal development preferences with their staked ETH.

The EVA has been announced as the first recipient of a grant from the ECF, giving validators a voice in Ethereum's monetary policy and decision-making processes.

In addition to validator support, the ECF will fund projects that integrate traditional financial assets like stocks, bonds, and real estate onto the Ethereum blockchain to boost institutional adoption.

To qualify for grants, projects must utilize Ethereum as their settlement layer and be tokenless and immutable in nature.

Cole raised concerns about potential conflicts of interest involving Offchain Labs and Prysmatic Labs, which could affect Ethereum's governance and development.

He criticized projects like Uniswap, Ethereum Name Service, and Optimism for receiving support from the Ethereum Foundation while launching their own tokens backed by venture capital, arguing that publicly funded projects should remain public.

The ECF's launch coincides with significant reorganization efforts within the Ethereum Foundation, and it seeks to engage with governments and policymakers to establish Ethereum as a trusted institutional infrastructure.