A new Ethereum-focused startup backed by founder Vitalik Buterin aims to win over Wall Street as the network attempts to keep up with broader developments in the crypto industry.
Etherealize, founded by former Nomura and UBS bond trader Vivek Raman, announced its launch Wednesday evening in New York.
“All roads flow through ETH. We’ll show the world why,” the company wrote in a statement posted on X.
The startup describes itself as an “institutional marketing and product arm” for the Ethereum ecosystem.
While Bitcoin benefits from mainstream adoption and potential government reserves, Ethereum’s new Wall Street liaison faces the challenge of articulating the network’s value proposition to institutional investors who have so far favored its older rival.
Buterin and the Ethereum Foundation have been identified as key investors, according to a Bloomberg report on Wednesday. While the foundation confirmed its investment in Etherealize, neither party disclosed the funding amount.
The need for “safety, security, reliability, and a track record” among financial institutions can be satiated by Ethereum, Raman said in his interview with Bloomberg. Ethereum is the “only blockchain that stood the test of time,” Raman claimed.
Growing pains
Over the past week, community concerns around the Ethereum Foundation’s (EF) leadership and overall effectiveness have raised issues, comparing Ethereum to other projects and ecosystems in the industry.
Community members accuse the foundation of maintaining a bloated budget while failing to utilize its $900 million in Ether holdings or adequately support network developers.
In response, Buterin acknowledged ongoing leadership changes but later pushed back against toxic criticism, particularly toward EF Executive Director Aya Miyaguchi.
While critics argue the foundation’s approach has caused Ethereum to fall behind competitors like Solana and XRP, Buterin warned that aggressive pressure tactics could drive away top talent.
The situation reached a flashpoint with prominent Ethereum developer Nick Conner’s departure, citing misalignment between leadership and community desires.
“Deep down, I truly hope Ethereum succeeds,” Conner wrote on X on Monday.
Decrypt has reached out to Etherealize on how it plans to operate independently from the Ethereum Foundation.
Edited by Sebastian Sinclair
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