Two Ethereum Nonprofits Launch in Nine Days as ETH Stays 67% Off Its Peak

A second Ethereum-focused nonprofit, Ethereum Institutional, went live on July 1, 2026 — just nine days after the research organization Ethlabs launched on June 22. Both entities share the same core backers and a common goal: accelerating institutional adoption of Ethereum. Ether (ETH) was trading near $1,610 at the time of the announcement, up roughly 5% over 24 hours but still approximately 67% below its August 2025 record high.

Ethereum Institutional describes itself as an independent, credible front door for institutions evaluating the Ethereum network. Its founding team previously built the Ethereum Foundation's enterprise function. David Walsh, Marius Smith, and Matthew Dawson lead the organization, with Walsh having earlier directed the Foundation's enterprise efforts. The nonprofit outlined five priorities at launch: institutional engagement, market intelligence, ecosystem marketing, industry research, and events. Additional supporters are expected to join in the near term.

The organization is backed by BitMine — chaired by Tom Lee — SharpLink Gaming, and Ethereum co-founder Joe Lubin. BitMine is the largest known corporate holder of ETH, controlling approximately 5.7 million ETH, or about 4.7% of the total supply, according to a late-June company disclosure. SharpLink, the second-largest corporate ETH treasury, added 10,000 ETH shortly before the launch.

Ethlabs, the first of the two nonprofits, was positioned by its backers as a vehicle for preparing the Ethereum network for what they called an institutional supercycle. Both organizations operate independently from the Ethereum Foundation, which has been narrowing its role to core protocol stewardship.

Geoff Kendrick, global head of digital assets research at Standard Chartered, described the two launches as significant for Ethereum's commercialization. In a client note, Kendrick wrote that the organizations arrive as traditional finance enters the network at scale, filling a longstanding gap in institutional outreach. He characterized Ethlabs and Ethereum Institutional as complementary: one focused on protocol readiness, the other on bringing institutions directly into the ecosystem. 'This commercialization is central to ensuring Ethereum capitalizes on its current lead towards becoming the settlement layer of the global economy,' Kendrick stated.

Tom Lee publicly welcomed the launch of Ethereum Institutional. Lee has previously cited a long-term ETH price target of $250,000, arguing that tokenization will draw institutional capital onchain.

Despite the organizational momentum, ETH's price performance remains a concern. The token has spent much of 2026 near the lower end of its trading range. By comparison, Bitcoin (BTC) trades approximately 53% below its own peak — a notably shallower drawdown than ETH's 67% decline. The gap underscores the pressure on Ethereum's backers to translate institutional infrastructure into tangible market demand.

Ethereum Institutional's announcement statement framed the stakes directly: 'The world's largest institutions are deciding where tokenization, stablecoins, and onchain markets will settle. We're ready to make Ethereum the base layer for institutional finance.' Whether the dual nonprofit structure converts that ambition into sustained buying pressure will become clearer over the coming months.