If the SEC thinks $XRP is a security then ETH looks like a security. Vitalik Buterin the creator of ETH. When ETH launched 12 million ETH were created for the six founders and the developers of the Ethereum Foundation. And 60 million ETH were pre-mined for participants to buy. 1/

Some experts say Vitalik owns around 352,000 ETH (Mar 29, 2020) Ethereum Foundation was created in 2014 by Vitalik and others. Vitalik said the Ethereum Foundation sold ETH “I did get the Ethereum Foundation to sell 70,000 ETH like basically at the top and that’s doubled.. 2/

our runway now” Foundation made approximately $100 million after selling ETH during the last all-time high. Vitalik has commented that he has earned a six-figure salary from the Ethereum Foundation five years ago which was $144,000 per year.. 3/

With other founders having a significantly larger salary over $200,000+. Ethereum Foundation have helped ETH grow having a big impact. Ethereum Foundation was holding 0.6 percent of all ETH, as well as some reserves of cash (May 21, 2019 ) 4/

So how does Ethereum Foundation finance itself well it has lots of ETH. Vitalik Buterin created ETH and also created Ethereum Foundation with others. He has used his creation ETH to help to fund Ethereum Foundation, which as helped the ETH ecosystem grow investing in projects 5/

Individuals have purchased ETH speculating on ETH and the Ethereum Foundation expecting a return. In 2015 Mike Novogratz purchased 500,000 ETH form Ethereum Foundation. Vitalik made a reply to Mike Novogratz on Twitter Nov 17, 2020.. 6/

“I'm grateful to @ novogratz and other early purchasers of the EF's ETH. If it weren't for them, perhaps the EF would not have survived financially and ethereum would have had a harder time growing to where it is today!” He is obviously expecting a return in his investment. 7/

Without Ethereum Foundation ETH would likely have far less success, still have a influence today. They have used ETH part of their funding for their venture. Participants purchased ETH expecting return from Ethereum Foundation efforts and by selling token in secondary market 8/