Bitmine, Sharplink, and Consensys CEO Joseph Lubin are backing another Ethereum-focused non-profit called the Ethereum Institutional, an independent organization "dedicated to accelerating the institutional adoption of Ethereum, its L2s, applications and overall ecosystem," according to an announcement on Wednesday.
"For years, Ethereum has had the most credibly neutral, liquid, and battle-tested base layer in crypto. What it lacked was a neutral party responsible for the wider ecosystem's institutional GTM, someone in the room with institutions, representing Ethereum as a whole rather than any single product or vendor," David Walsh, a longtime Ethereum backer and now co-founder of Ethereum Institution, said on X.
Walsh said Ethereum Institution is aiming to be “an honest, neutral counterpart” institutions can call when building on Ethereum.
"Choosing Ethereum isn’t a single decision. It unfolds through a long run of technical and commercial decisions, and throughout that process, institutions need a credible counterpart who can help them navigate the ecosystem and brief leadership with clear, unbiased answers," the institute wrote on its new X account.
EF shakeup
