Ethereum Set to Conquer Wall Street with Etherealize

• Ethereum targets banks and institutions to boost Ether
• Etherealize bets on tokenization in the financial market
• Vitalik Buterin promises changes to strengthen credibility

The Ethereum Foundation is investing in a project that aims to consolidate Ether (ETH) as one of the top cryptocurrencies for Wall Street, according to information from Bloomberg. Vitalik Buterin, co-founder of the network, backs the startup Etherealize, led by Vivek Raman, a former bond trader at large financial institutions.

At the time of publication, the price of Ethereum was quoted at $3.239,27 with a drop of 1.3% in the last 24 hours.

“All roads flow through ETH. Let’s show the world why,” the team said in a statement, signaling confidence in the ability to expand ETH’s use in the institutional space. Raman added: “In terms of Wall Street assets, we are focused on bringing entire asset classes on-chain, starting with credit markets.”

The current scenario shows Bitcoin gaining prominence among investors, while Ether is still chasing a comparable appreciation. However, there is an expectation that initiatives such as Etherealize can reverse this situation and reinforce the adoption of ETH in institutional funds, especially after the approval of Ether ETFs in 2024.

For Raman, the potential for tokenizing financial assets is essential. “We believe that the future of all assets is tokenization, and Ethereum is the most secure blockchain for high-value tokenized assets,” he said in an interview, highlighting the network’s long history in the market. He added: “If there is a time when this will work, it is now, when all the obstacles that existed in the past have suddenly turned into tailwinds, from regulatory issues to technology and Ethereum’s readiness for institutional presence.”

However, the project has faced criticism for allegedly losing ground to competing blockchains such as Solana, which has attracted high-profile projects. In addition, members of the Ethereum community have expressed concerns about the foundation’s governance, resulting in developers leaving. “Deep down, I really hope that Ethereum succeeds,” Nick Conner said as he stepped down from the ecosystem. In light of this, Buterin has promised “significant changes” to the foundation’s structure to respond to user demand and drive further growth.

Despite the challenges, experts believe that the combination of institutional focus, technical advances and renewed marketing strategies can leverage the adoption of Ether in several markets, further strengthening Ethereum's presence in the global cryptocurrency scene.