Ethereum Launches New Nonprofit to Bridge Gap With Banks and Asset Managers

TLDR

• Ethereum Institutional launched Wednesday, backed by Joe Lubin, BitMine, and SharpLink, to improve outreach to banks and financial institutions
• Standard Chartered said the launch addresses a long-standing communications gap between Ethereum and major financial institutions
• Ethereum holds nearly 58% of the tokenized real-world asset market and about half of the $311 billion stablecoin market
• The Ethereum Foundation has cut 20% of its workforce this year amid leadership departures and governance criticism
• Standard Chartered analyst Geoff Kendrick maintained his ETH price target of $4,000 by end of 2026

A new nonprofit called Ethereum Institutional launched Wednesday, backed by Ethereum co-founder Joe Lubin and ETH treasury companies BitMine Immersion Technologies and SharpLink.

The organization’s goal is to serve as a liaison between the Ethereum ecosystem and the world’s financial institutions — banks, asset managers and portfolio managers.

In its launch announcement, the group said Ethereum has lacked “a credible, independent front door” for institutional engagement. It plans to operate across New York, London, Hong Kong, Singapore and other financial hubs.

Standard Chartered welcomed the move, saying it addresses a communications gap that has existed between Ethereum and major institutions for years.

Standard Chartered analyst Geoff Kendrick said the launch, paired with the earlier debut of Ethlabs, has “direct positive implications” for Ethereum’s layer 1, layer 2s and DeFi protocols.

Kendrick kept his price target of $4,000 for ETH by end of 2026 and $40,000 by end of 2030.

Why the Launch Matters Now

Ethereum currently holds nearly 58% of the tokenized real-world asset market, according to Token Terminal. It also accounts for roughly half of the $311 billion stablecoin market, per DeFiLlama.

Despite that dominance, rival blockchains are stepping up efforts to attract institutional users. Ethereum Institutional is positioned as a response to that pressure.

ETH was trading at around $1,620 on Wednesday, down sharply from above $4,000 as recently as October 27. Both BitMine and SharpLink are sitting on unrealized losses from their ETH holdings.

Ethereum Foundation Restructuring Adds Context

The launch comes during a period of change at the Ethereum Foundation. The organization cut roughly 20% of its workforce this year and saw around 19 departures, including co-executive director Hsiao-Wei Wang.

The foundation has faced criticism over transparency, governance and Ether’s market performance.

In response, independent organizations have stepped in. Ethlabs, a nonprofit focused on Ethereum scalability research, launched in June from the same backers behind Ethereum Institutional.

Aztec Labs CEO Joe Andrews said the ecosystem now has three nonprofits advocating for Ethereum adoption. He described the institutional focus as a natural step for a network he called “the only credible option” for global settlement.

Vivek Raman of Etherealize framed it as proof of Ethereum’s decentralized model, noting the network is “built by independent nodes” rather than any single organization.

According to 21shares, current ETH prices have not yet reflected growing institutional demand.

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