Wu says it has learned that Ethereum Institutional has been announced as an independent nonprofit organization aimed at driving institutional adoption of Ethereum, Layer 2, applications, and the overall ecosystem. Its key areas of focus include institutional engagement, institutional intelligence, Ethereum ecosystem and ETH marketing, industry needs discovery, and event organization. The founding team previously built the enterprise functions of the Ethereum Foundation and has engaged with hundreds of institutions, including banks, asset management firms, custodians, and market infrastructure providers. Currently, BitMine, Sharplink, and Joseph Lubin serve as its anchor funders.