EthSystems, an engineering and research company, has publicly launched with anchor funding from Bitmine Immersion Technologies, Sharplink, and Ethereum co-founder Joe Lubin. The company, founded by the team behind the Ethereum Foundation’s Institutional Privacy Task Force, is building privacy technology that enables banks, asset managers, and other regulated institutions to execute financial transactions on Ethereum at scale without exposing sensitive information.
The launch comes with a year of open-source work already available at ethsystems.org, encompassing private transfers, private bonds, confidential settlement, and privacy-preserving identity. EthSystems has cultivated direct relationships with central banks, regulators, and tier-one financial institutions, positioning itself as a critical layer for institutional adoption.
Tom Lee, Chairman of Bitmine, emphasized the scale of the opportunity: “The institutionalization of Ethereum requires infrastructure that meets institutional standards for privacy and security. The next $100 trillion of assets won’t migrate on-chain without it.” Sharplink CEO Joseph Chalom noted that the team has rigorously validated the solutions with key institutions, adding that the work will “accelerate the next phase of institutional adoption of Ethereum.”
Joe Lubin highlighted the team’s commitment to open-source principles, stating that they publish their work as they go, allowing the ecosystem to build on it rather than waiting for a single company’s answer. EthSystems co-founder and CEO Mo Jalil framed privacy as a prerequisite: “No central bank, asset manager or government will run operations in full view of the world. For them, privacy isn’t a feature. It is the requirement, and it is the difference between Ethereum holding billions today and running trillions tomorrow.”
The company operates within a trio of entities spun out of the Ethereum Foundation: Ethlabs for core protocol development, Ethereum Institutional for market engagement, and EthSystems for applied privacy technology. With backers like Bitmine (which is shifting its treasury strategy to prioritize ETH) and Sharplink (a publicly traded Ethereum treasury platform), the launch signals a coordinated push to equip Ethereum with the confidentiality tools needed for mainstream financial activity.
