Ethereum Institutional, a nonprofit promoting Ethereum to banks, funds and other institutional investors, announced it closed a seed round and assembled a coalition.

Funding and backers

According to the organization, the initial funding round attracted investors including Bitmine, SharpLink, and Ethereum co-founders Joseph Lubin and Mihai Alisie.

Partners coalition

The coalition reportedly exceeds 100+ partners and includes a mix of protocol teams, infrastructure providers and service firms from across the ecosystem.

• Circle
• Chainlink
• Aave
• Uniswap
• ConsenSys
• Fireblocks
• Ledger
• Bitwise
• Arbitrum
• Optimism

Institutional engagement

The organization states it already collaborates with more than 500 institutions and convened an Institutional Ethereum Forum with 150 executives in attendance.

At that forum, participating financial firms were said to manage roughly $250 trillion in combined assets, according to the nonprofit's figures.

Purpose and outlook

Ethereum Institutional positions itself as a bridge between the Ethereum ecosystem and large-scale investors, focusing on engagement and coordination with financial entities.

The nonprofit did not disclose further financial details or a public roadmap for the coalition beyond the announced membership and forum participation.