According to Odaily, Etherealize founder Vivek Raman said in an interview that Wall Street’s attitude toward Ethereum is moving beyond the early stage of “proofs of concept and pilots” and toward direct use of the network as production-grade infrastructure. He described the past year and a half of institutional activity as mostly “small-scale testing,” but said the direction has now changed toward a view that institutions “must fully embrace public chains and use them as internet infrastructure.”
Raman said stablecoins have been the first major use case through which institutions entered crypto. In his view, stablecoins have helped traditional financial institutions understand how public blockchains can function in settlement, liquidity and asset movement. He also said Ethereum’s network effects in stablecoins and liquidity continue to attract traditional financial institutions.
The narrative around Ethereum, Raman added, is now expanding beyond stablecoins into a broader set of asset classes, including tokenized stocks, bonds, real estate and investment funds. He said institutional adoption is accelerating, but that this has not yet been fully reflected in the price of ETH. The lag, according to Raman, comes mainly from the long sales and onboarding cycles involved in institutional adoption. As he put it, “the infrastructure is ready, but assets have not yet moved on-chain at scale.”
Raman described Ethereum as being at a key turning point. The underlying financial “pipes” have been built, but the migration of assets at scale is still in an early phase. As more real-world assets move on-chain, he said, the market will reassess ETH’s value as an asset for network security and settlement. His framing places emphasis not on short-term price movement, but on whether Ethereum can support real users and real assets at greater scale.
He also responded to controversy surrounding the Ethereum Foundation, saying that its move to “step into the background” is the right direction. Raman said this helps avoid a single entity controlling global financial infrastructure. He argued that the foundation should focus on security, censorship resistance, privacy and long-term technologies, including zero-knowledge proofs and quantum resistance. For Ethereum, he said, the final measure of success is not price, but the size of its real user base and its capacity to carry real assets. The original report cited CoinDesk.