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New non-profit ETHSystems boosts Ethereum's privacy push amid Ethereum Foundation scaling down.

Protocol Fundamentals
16 Jul 2026
AMBCrypto
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Bullish
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ETHSystems, a new Ethereum-focused non-profit backed by Bitmine Immersion Technologies and Ethereum co-founder Joe Lubin, aims to enhance privacy on the Ethereum network for institutional use. This marks the third non-profit stepping in as the Ethereum Foundation reduces its role, with Bitmine as a key financier. The move supports Ethereum's future as a settlement layer for confidential systems, especially for Wall Street players. Meanwhile, growing stablecoin adoption on Ethereum fuels speculation that ETH could eventually surpass Bitcoin in market dominance.

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