Ethereum, the second-largest cryptocurrency by market cap, is making bold strides to gain favor in the world of institutional finance. Vitalik Buterin, co-founder of Ethereum, and the Ethereum Foundation are spearheading efforts to market Ether (ETH) as the ideal cryptocurrency for Wall Street, in an attempt to emulate Bitcoin’s recent institutional success.
A key player in this transformation is Etherealize, a new startup founded by former bond trader Vivek Raman, with backing from Buterin and the Ethereum Foundation. Etherealize aims to position Ethereum as a trusted asset for financial institutions, focusing on building products that enhance the network’s usability for banks.
Despite being a pioneer in blockchain technology, Ethereum has struggled to match Bitcoin’s meteoric rise. In 2024, while Bitcoin surged 160% to break past $100,000, ETH saw a more modest 40% growth. Compounding this, Ethereum has faced increasing competition from layer-1 blockchains like Solana, which gained prominence after hosting meme coins like TRUMP and MELANIA.
Raman, alongside his eight-member team, has set up operations in New York with an agenda to promote Ethereum to Wall Street. Tokenization—turning traditional financial products into blockchain-based digital tokens—is a top priority. According to Raman, Ethereum’s decade-long history and relative regulatory clarity make it an attractive choice for institutional investors.
Buterin, acknowledging user criticism over missed opportunities, promised “significant changes” to the Ethereum Foundation’s strategy. These efforts come as Ether ETFs, launched in July 2024, begin to see renewed inflows following Donald Trump’s election victory.
Currently, Ethereum ETFs boast net inflows of $2.725 billion, a sign of growing interest. As ETH consolidates near $3,300 with increasing whale activity, analysts predict a potential climb to $4,000 in 2025.
Also Read: Will Vitalik Buterin’s PEPE Purchase Propel Coin to $1? Analyzing Pepe Coin’s Price Surge Potential
If Etherealize succeeds in its mission, Ethereum could see a significant institutional boost, narrowing the gap with Bitcoin and redefining its place in the cryptocurrency landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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