Ethereum Developer Launches ECF with $10K ETH Price Target Amid Growing Institutional Demand

Ethereum core developer Zak Cole has introduced the Ethereum Community Foundation (ECF) with an ambitious goal: driving Ether (ETH) to $10,000 while refocusing the ecosystem's attention on ETH as a core asset. Announced at ETHCC 8 in Cannes, the independent ECF positions itself as complementary to the Ethereum Foundation, with Cole stating: "We articulate what the Ethereum Foundation cannot, and execute what they will not."

The ECF will fund infrastructure projects that expand Ethereum's ecosystem while strengthening ETH's monetary value. Grant recipients must build non-tokenized, immutable applications using Ethereum's mainnet as the settlement layer, thereby generating ETH burn through transaction fees. Projects must additionally support public goods without introducing new tokens or VC dependencies.

"ETH's price directly reflects its security," Cole emphasized in an X post, outlining the foundation's monetary reform vision. The first grantee, Ethereum Validator Association (EVA), will enhance validator participation in ETH's monetary governance through prioritized EIP development and client performance improvements.

Cole critiqued the Ethereum Foundation for supporting projects like Uniswap, Optimism, and ENS that later launched VC-backed tokens, advocating that publicly funded projects should remain public. He also raised concerns about potential conflicts of interest regarding Prysmatic Labs' ownership structure.

The initiative emerges as Ethereum ETFs recorded $260 million inflows last week, signaling growing institutional interest. Technical analysis suggests bullish potential, with ETH consolidating near $2,600 after forming a base at $2,470 in June. Analysts project possible $10,000-$12,000 valuations by early 2026 if key resistance levels break, supported by upcoming network upgrades and institutional accumulation.