Ethereum Institutional has announced the completion of its inaugural ecosystem funding round, securing support from more than 100 organizations and prominent industry figures to accelerate institutional adoption of Ethereum.

The fundraising effort is backed by BitMine, SharpLink, Ethereum co-founders Joe Lubin and Mihai Alisie, as well as a wider network of crypto-focused institutions and ecosystem participants. The organization did not reveal the size of the round.

The initiative aims to convert years of institutional engagement into greater adoption of Ethereum-based financial infrastructure, with a focus on tokenized assets, stablecoins, collateral systems and onchain market infrastructure.

Its supporter coalition includes major names across the Ethereum ecosystem such as 21Shares, Anchorage Digital, Arbitrum, Circle, Consensys, Fireblocks, Galaxy, Ledger, MetaMask, Robinhood, Securitize, Uniswap Labs and zkSync, alongside dozens of other projects and contributors.

Ethereum Institutional said it will now expand outreach to traditional financial institutions, including banks, asset managers, custodians, market infrastructure providers and sovereign entities evaluating blockchain adoption.

The organization also plans to increase investment in institutional education, market intelligence, ecosystem promotion and collaborative initiatives involving layer 2 networks, application developers and infrastructure providers.