Ethereum, the “digital oil” destined to revolutionize traditional financial institutions

Vivek Raman, co-founder of Etherealize and former Wall Street banker, is leading an unprecedented charm offensive.

Vivek Raman, co-founder of Etherealize and former Wall Street banker, is leading an unprecedented charm offensive. He now presents Ethereum as the “digital oil” destined to revolutionize traditional financial institutions.

This year, several reports highlight a surprising trend: the massive entry of institutional players into the cryptocurrency market is continuing at an unhurried pace.

Among these giants deploying their pawns on the chessboard are behemoths like BlackRock, which has already launched several tokenized products, and Franklin Templeton, which is also venturing into this domain.

This influx of institutional actors is forging a new generation of startups developing this technology. Among them is Etherealize, co-founded by former Nomura and UBS banker Vivek Raman.

Since January 2025, Raman and his team have been busy rolling up their sleeves to convert financial institutions to use Ethereum.

“I still call it digital oil, but people are starting to understand it better. We believe that with the evolution of the crypto ecosystem, people will want to hold this asset as a reserve,” he explains.

This analogy is directly inspired by bitcoin, often called “digital gold,” making Ethereum more accessible to newcomers from Wall Street.

It is an interesting observation. Indeed, several reports highlight a surprising trend: the massive entry of institutional players into the cryptocurrency market is continuing at an unhurried pace.

Among these giants deploying their pawns on the chessboard are behemoths like BlackRock, which has already launched several tokenized products, and Franklin Templeton, which is also venturing into this domain.

This influx of institutional actors is forging a new generation of startups developing this technology. Among them is Etherealize, co-founded by former Nomura and UBS banker Vivek Raman.

Since January 2025, Raman and his team have been busy rolling up their sleeves to convert financial institutions to use Ethereum.

“I still call it digital oil, but people are starting to understand it better. We believe that with the evolution of the crypto ecosystem, people will want to hold this asset as a reserve,” he explains.

This analogy is directly inspired by bitcoin, often called “digital gold,” making Ethereum more accessible to newcomers from Wall Street.

The 'digital oil' analogy: attractive but imperfect

The idea is simple: just as oil fuels the global industry, ETH fuels the blockchain network. It serves as fuel for all transactions and smart contracts.

However, fundamental differences emerge. Unlike oil, whose supply remains elastic according to demand, Ethereum has a maximum issuance of 1.5% per year.

“Rather than a fixed total supply cap, there is a fixed annual issuance cap,” clarifies Danny Ryan, co-founder of Etherealize and former researcher at the Ethereum Foundation. This predictability reassures institutional investors used to assets with clear rules.

The most striking advantage of Ethereum lies in its ability to generate income. Unlike oil stored in reserves, ETH “staked” on the network currently yields 3% per year. This passive income naturally attracts institutions seeking regular returns.

Ethereum, future reference asset of tokenized finance

The real revolution of Ethereum lies in the tokenization of traditional assets. BlackRock and Franklin Templeton have already taken the step by tokenizing several of their funds on this blockchain. This institutional adoption is expected to accelerate under Donald Trump, known to be favorable to cryptocurrencies.

Admittedly, competitors like Solana are nibbling away market share. Kraken has even chosen this blockchain for some of its offerings. But Ethereum maintains a lead thanks to its maturity and proven security.

Raman goes further in his vision. “In this ecosystem where all global assets are tokenized, the only neutral and global asset that connects all these assets is ETH,” he asserts. This perspective turns Ethereum into the backbone of the digital financial system.

Concretely, ETH would serve as a universal exchange currency between different tokenized assets. Stocks, bonds, commodities: all these traditional assets could be traded via Ethereum. This interconnection would create a truly global digital economy.

This vision aligns with the increasing interest of institutional players in cryptocurrencies, a trend observed throughout the year.

Earlier, in August, researchers at the University of Cambridge revealed that a third of the world’s largest companies had invested in or experimented with cryptocurrencies, highlighting the growing enthusiasm of these giants for the industry.

Moreover, the arrival of Donald Trump on the political scene could further accelerate this adoption. Known for his pro-cryptocurrency stance, he is likely to encourage the development of the sector.

Finally, the “digital oil” analogy makes complete sense. Just as oil revolutionized industry in the 20th century, Ethereum could well transform 21st-century finance.

Experts anticipate that tokenization of stocks will surpass $1 trillion in the medium term. Wall Street is gradually discovering this infrastructure, which will likely become the backbone of tokenized finance.