Ethereum Institutional, an independent nonprofit founded by former members of the Ethereum Foundation’s Enterprise team, closed its inaugural funding round on July 29 with backing from over 100 institutional and individual supporters. The organization aims to serve as a neutral front door for banks and asset managers exploring tokenization, stablecoin issuance, and on-chain infrastructure. Key backers include publicly traded companies BitMine Immersion Technologies (NYSE: BMNR) and SharpLink (Nasdaq: SBET), as well as Ethereum co-founder Joseph Lubin and early contributor Mihai Alisie. The board includes Tom Lee and former BlackRock executive Joseph Chalom. The launch comes amid a broader restructuring of the Ethereum ecosystem, including the creation of EthLabs and the Ethereum Foundation pulling back from enterprise-facing functions.
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