We break down the latest Ethereum ecosystem news: how much the organization raised and the new faces joining the EF board.
Ethereum Institutional, the independent organization launched to drive institutional adoption of the ecosystem, has announced the close of its first funding round. More than 100 organizations and individuals participated. The round was led by BitMine, SharpLink, and Ethereum co-founders Joe Lubin and Mihai Alisie. Participants include 21Shares, Aave, Circle, Curve Finance, Robinhood, Uniswap Labs, Securitize, and ENS Labs. The total raised was not disclosed.
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Separately, the Ethereum Foundation (EF) has appointed Pascal Coversacchio, co-founder of emergency crypto security service SEAL 911, to its board of directors. Both developments come as the ecosystem sharpens its focus on security and institutional adoption.
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Ethereum Institutional: 100+ Investors and Focus on Institutional Adoption
Ethereum Institutional was launched in early July 2026. Its goal is to create a single entry point for banks, asset managers, custodians, and sovereign institutions looking to work with Ethereum (ETH). After the funding round, the organization plans to focus on helping companies implement Ethereum, promoting specific use cases, and identifying key areas of interest.
The organization stated:
“The momentum for Ethereum as an institutional base layer has never been stronger. Institutions now have a dedicated, neutral, ecosystem-aligned counterpart for evaluating and developing Ethereum.”
The news had little impact on ETH▲$2,518.27’s price, which has been range-bound since a dip on July 27. At the time of publication, the altcoin trades at roughly $1,930, up 1.3%.
Institutional Ethereum adoption continues to grow. Morgan Stanley launched Solana (SOL) and Ethereum-based exchange products in the US. During the week of July 20-24, spot Ethereum funds attracted $103.9 million–more than US spot bitcoin ETFs.
Read more: Ethereum ETFs Are Back — Could Institutional Money Finally Ignite the Next ETH Rally?
Ethereum Foundation Strengthens Security Focus — Coversacchio Joins Board
Pascal Coversacchio has been appointed as the fourth member of the Ethereum Foundation board. He joins President Aya Miyaguchi, co-founder Vitalik Buterin, and Swiss lawyer Patrick Storchenegger.
The appointment comes as the Foundation sharpens its focus on privacy and security, which it described in June as “non-negotiable protocol guarantees.” Coversacchio is known for authoring the “Ethereum Cypherpunk Manifesto” and serving on the advisory board of the Silviculture Society, created by the EF in February 2025.
The EF board is responsible for strategic vision and acts as a security council, protecting the foundation’s mission and ensuring compliance with Swiss law. Coversacchio was appointed for an initial one-year term on a voluntary basis. EF President Aya Miyaguchi said his security and privacy expertise is “not just technical — he’s a living example of what 100 percent alignment with CROPS principles looks like.“
Read more: Vitalik Buterin’s Top Statements — How ETH Price Reacts to Ethereum Founder’s Words
Context: Ethereum Foundation Restructuring and Key Departures
Coversacchio’s appointment comes amid significant changes at the EF. In June 2026, the foundation cut 20% of its staff, reorganizing around five R&D units. The moves followed departures at the executive director level and within the protocol team.
The foundation has said it will focus on core values: censorship resistance, open source, privacy, and security. Coversacchio is seen as a key figure in shaping that agenda. Crypto commentator Paul Dylan-Ennis noted that Coversacchio’s 2024 manifesto laid out privacy, security, and censorship resistance principles that gradually entered Ethereum’s cultural lexicon and were quasi-formalized in the EF’s March mandate.
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