Etherealize

Etherealize develops financial infrastructure intended to move institutional markets onto the Ethereum blockchain. Its stated product suite spans three pillars: bringing inefficient institutional asset classes onchain so institutions can issue, manage and settle tokenized assets; automating trading infrastructure with automated execution and instant settlement while retaining compliance controls; and embedding a customizable privacy environment built with zero-knowledge technology so tokenized assets can trade privately and compliantly at scale.

Beyond software, the company positions itself as a research, content and advocacy organization for institutional Ethereum adoption. It publishes reports and blog posts (for example "The Bull Case for ETH," "Wall Street Needs a Blockchain. That Blockchain is Ethereum.," and "The Future of Financial Infrastructure: Ethereum's Layer 2 Landscape"), meets with banks, asset managers, sovereigns and hedge funds, works to expand access to tokenized assets and new Layer 2 networks, and says it has represented Ethereum before the U.S. Treasury, the SEC, Congress and the White House. CEO Vivek Raman has described the initial product focus as tokenizing mortgages, credit and other fixed-income products, though specific products had not been detailed publicly as of the September 2025 funding announcement.

Founding story

In August 2024, Vivek Raman — a traditional finance veteran with experience at Morgan Stanley, UBS and Deutsche Bank — received a grant from Ethereum cofounder Vitalik Buterin and the Ethereum Foundation to conduct market discovery interviews with Wall Street executives about whether and how institutions wanted to use Ethereum. Concluding that demand existed, he launched Etherealize in early 2025 with cofounders Danny Ryan (a longtime Ethereum developer and researcher), Grant Hummer (a traditional finance veteran) and Zach Obront (an Ethereum security engineer). The name is a portmanteau of "Ethereum" and "realize." The company describes its origin as filling the gap left after Ethereum's Merge proved the network could secure large amounts of value: a dedicated team to help Wall Street make use of it.

Business model

Etherealize sells institutional-grade infrastructure and software to financial institutions seeking to issue, trade, settle and privately manage tokenized assets on Ethereum, and complements this with research and content aimed at the same buyers. Public sources do not specify pricing or contract structures.

Traction

As of the September 2025 funding announcement the company had 14 employees and had raised $40 million, with plans to scale headcount. Its site lists roughly two dozen team members across engineering, product, operations, legal, security and business development, and it reports meetings with banks, asset managers, sovereigns and hedge funds plus engagement with U.S. regulators and policymakers. No customer names, revenue or transaction volumes are disclosed in the sources.

Latest developments

The company website's newsroom lists media appearances including a Coindesk interview in which CEO Vivek Raman criticizes Wall Street's focus on private blockchains as a "race to the bottom," a Coindesk piece on institutions moving past crypto pilots into Ethereum, and an appearance on The Milk Road Show on Ethereum's potential value. Recent published research includes "The Future of Financial Infrastructure: Ethereum's Layer 2 Landscape" (December 2025) and "A Guide for Enterprises: The Basics of Digital Asset Infrastructure" (December 2025).