The Ethereum Foundation (EF) has transferred $131 million worth of ETH to a multi-signature wallet linked to decentralized finance (DeFi) activities, according to data from analytics platform Lookonchain.

This move suggests that EF aims to generate additional income through DeFi protocols. The wallet has previously interacted with AAVE, a leading decentralized lending platform.

Last month, the foundation allocated 50,000 ETH—nearly 20% of its total holdings—to strengthen its DeFi participation and expand its treasury. This decision follows criticism that EF has been slow to embrace DeFi, with founder Kain Warwick previously arguing that DeFi has been essential to Ethereum’s growth.

In response, Ethereum co-founder Vitalik Buterin defended the foundation’s stance, emphasizing the need for sustainable applications while confirming his personal use of decentralized exchanges.