Bitmine, SharpLink, and Joe Lubin Unite to Support Ethereum R&D Nonprofit

According to SharpLink, the newly established nonprofit Ethlabs has been created to make sure the network is capable of handling the growing demand that institutional adoption through stablecoins, tokenization, and artificial intelligence is expected to generate.

A newly formed research and development nonprofit focused on preparing Ethereum for institutional adoption has received backing from former Ethereum Foundation contributors and Ether treasury companies Bitmine and SharpLink.

On Monday, it was announced by SharpLink that Ethlabs had been established to “ready Ethereum for the next phase of institutional adoption,” with financial support being provided by the company alongside Bitmine, Ethereum co-founder Joe Lubin, and several other contributors from the Ethereum ecosystem.

Sharplink stated that as stablecoins, tokenized real-world assets, investment funds, and autonomous AI-driven commerce increasingly migrate on-chain, Ethereum is emerging as the neutral and credibly permissionless settlement layer for the global economy. According to the company, Ethlabs has been created to ensure that the network can accommodate that rising demand on a large scale.

The launch has come only days after former Ethereum Foundation contributor Trenton Van Epps cautioned that Ethereum is confronting a funding crisis for core development. It also arrives during a continuing wave of departures from the Foundation, with co-executive director Hsiao-Wei Wang having stepped down last week.

According to Sharplink’s announcement, Ethlabs brings together “technologists who have guided the network through its most consequential upgrades over the past decade.” Through this initiative, that work is being given a dedicated institutional base supported by stable, long-term funding.

Ethlabs was established by five former senior researchers from the Ethereum Foundation: Ansgar Dietrichs, Barnabé Monnot, Caspar Schwarz-Schilling, Josh Rudolf, and Julian Ma, who served as its co-founders.

In a statement, Lubin said that Ethereum is moving into its next phase of development and added that a number of “steward nodes of Ethereum” should be established to help expand the blockchain’s adoption and usage.

“By providing a long-term, independent home to researchers and developers advancing Ethereum’s core technology and values, Ethlabs will be instrumental in preparing the network for the next major wave of adoption,” he added.

Challenges Mount as Ethereum Foundation Crisis Deepens

In May, Ethereum co-founder Vitalik Buterin said that the resources available to the Ethereum Foundation were limited, pointing out that only around 0.16% of the total Ether supply was being held by the organization.

Last week, former Ethereum Foundation contributor Trenton Van Epps warned that Ethereum could be drifting toward a “slow-burning funding crisis,” as the Foundation continues to sell portions of its Ether holdings.

“The EF is intentionally leaving a power vacuum for new structures to step up and influence the direction of Ethereum,” said Ethereum educator David Hoffman. “I think the Ethlabs direction holds the brightest future for Ethereum.”

Ether is currently trading about 65% below its all-time high, hovering near the $1,700 mark, a price range that was last observed in October 2023 and again in April 2025, while market sentiment remains stuck at levels typically associated with crypto winters.