In the Ethereum ecosystem, an independent non-profit organization, Ethereum Institutional, has been launched to promote the network among banks, asset managers, and other financial institutions. The new framework will work with all levels of the ecosystem: core Ethereum, L2 networks and projects built on these platforms. Ethereum Institutional’s main objective is to become an independent entry point for traditional financial players in evaluating Ethereum as a base layer for asset tokenization, stablecoin issuance, and onchain infrastructure development.

The organization’s operations team included David Walsh, Marius Smith, and Matthew Dawson, with Tom Lee, Joseph Charles, and Walsh on the board. Ethereum Institutional’s anchor sponsors are named BitMine Immersion Technologies, Sharplink, Inc. and ConsenSys CEO Joseph Lubin. Funding amounts are not disclosed, but the organization emphasized: "The world’s largest financial institutions decide where tokenization, stablecoins and oncean markets will develop. We are ready to make Ethereum the base layer for institutional finance.

The work of Ethereum Institutional will focus on five key areas: interaction with traditional financial institutions (TradFi), institutional analysis, promotion of Ethereum and ETH’s native token, study of market needs and organization of industry events. This launch comes on the heels of a major reorganization by the Ethereum Foundation: in June, the fund announced a budget cut of around 40% and a shift to a long-term capital management model, while project co-founder Vitaly Buterin presented an updated ecosystem governance framework.