Ethereum backers launch nonprofit to lead institutional adoption efforts
Backed by Joe Lubin, BitMine and SharpLink, the independent organization will serve as a liaison for financial institutions exploring Ethereum as competition for institutional capital heats up.
An Ethereum founder and some of its biggest treasury holders are behind a new independent nonprofit launched to coordinate the blockchain’s institutional outreach, underscoring the ecosystem’s push to attract more banks, asset managers and financial institutions as competition from rival blockchains intensifies.
The nonprofit, Ethereum Institutional, was introduced on Wednesday with backing from Ether (ETH) treasury companies BitMine Immersion Technologies and SharpLink, as well as blockchain co-founder Joe Lubin and other contributors. It plans to expand beyond New York, London, Hong Kong and Singapore into additional financial hubs while offering education, standards development, industry research and institutional events.
In a social media post announcing the launch, Ethereum Institutional said the ecosystem has lacked “a credible, independent front door” for engaging financial institutions, arguing that such a role is needed to accelerate institutional adoption.
