The Ethereum Foundation plans to transfer 50,000 ETH, valued at around US$150 million, to a newly created multisignature wallet.

This wallet will be used for engaging with decentralized finance (DeFi) applications, according to Hsiao-Wei Wang, a recently appointed leader at the foundation.

On Jan. 20, Wang announced on X that a “Safe 3-of-5 multisig wallet” has been established to facilitate the transfer.

She noted that processing delays may extend the time required for the move.

Wang emphasized the foundation’s goal of active involvement in the DeFi ecosystem.