Ethereum backers launch nonprofit to lead institutional adoption efforts
An Ethereum founder and some of its biggest treasury holders are behind a new independent nonprofit launched to coordinate the blockchains institutional outreach, underscoring the ecosystems 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.Source: Ethereum Institutional on X.com The launch comes as Ethereum continues to dominate the markets for stablecoins and tokenized real-world assets (RWAs), even as rival blockchains step up efforts to attract institutional users. According to Token Terminal, Ethereum hosts nearly 58% of the tokenized RWA market. Data from DeFiLlama also shows the network accounts for roughly half of the $311 billion stablecoin market. Although competition is intensifying, Ethereum remains the dominant blockchain