Does this mean ETH will see another dip when the Tezos people start cashing out their ETH for real money?
Yes ETH will be ZERO

No I don't think so. This is only 231 million. Ethereum is 19 billion.
the fund team must sell eth and btc for the development, but i dont know when they will do this, i just sell out my altcoin today, for i think tomorrow is black Friday and we will see the fall again