Ethereum Institutional completes round with 100+ firms

A coalition of over 100 cryptocurrency firms and prominent figures has finalized a major funding round for a new organization dedicated to accelerating the institutional adoption of the Ethereum blockchain. The group, Ethereum Institutional, announced the completion of its first funding round on July 29, 2026, with backing from major industry players including BitMine, SharpLink, and Ethereum co-founders Joseph Lubin and Mihai Alisie.

The organization, described as an independent nonprofit, aims to bridge traditional finance and blockchain technology by focusing on key areas like asset tokenization, stablecoins, and on-chain payment systems. While the specific investment amount was not disclosed, the breadth of support signals a coordinated push to establish Ethereum as a foundational settlement layer for major financial institutions.

The funding is intended to support expanded collaboration with a wide range of traditional financial entities, including banks, asset managers, custodians, and fintech companies. A core goal is to help these institutions build compliant systems for settlement, custody, and merchant payouts using the Ethereum blockchain and its associated layer-2...