Ethereum Gains Momentum as Wall Street Takes Notice
Ethereum is hovering above $2,500 this morning after the U.S. Senate passed the GENIUS Act—a move that seems to have given institutional investors more confidence in the asset. It’s not exactly a surprise, but it’s notable how quickly things are shifting. After nearly a decade of relative indifference, big financial players are suddenly eager to understand how Ethereum fits into their world.
Vivek Raman, founder of Ethereum-focused firm Etherealize, has been shuttling between Wall Street offices lately, explaining everything from tokenization to Layer 2 networks. “It’s been nonstop,” he told CoinDesk between meetings. “Banks, asset managers—they all want to know how this works.”
His firm helps institutions navigate Ethereum’s ecosystem, particularly its role as collateral for stablecoins and tokenized assets. Raman thinks the real breakthrough isn’t just the price action but the regulatory clarity that’s finally emerging. “For years, nobody knew if ETH was a security or a commodity,” he said. “Now, with policies like the GENIUS Act, that uncertainty is fading.”
Why an ETH ETF Isn’t the Whole Story
The approval of spot Ethereum ETFs grabbed headlines, but Raman argues the bigger deal is the underlying shift in how regulators view ETH. “The ETF helped, but it didn’t settle everything,” he said. “Now, with clearer rules, the floodgates could open.”
He points to Ethereum’s utility—settling transactions, backing stablecoins, securing Layer 2 networks—as the real driver of its value. “Every major tokenized asset, every stablecoin transfer, they all rely on ETH,” he said. “It’s becoming the backbone of this whole space.”
Meanwhile, other crypto developments are unfolding. Circle, the company behind USDC, is eyeing an IPO, and tokenized treasuries are gaining traction. But Raman thinks Ethereum itself will outlast any single project. “Circle might get the IPO, but ETH gets the actual usage,” he said.
Solana ETFs and OKX’s European Push
In other news, VanEck’s proposed Solana ETF has appeared on the DTCC’s website under the ticker VSOL—a small but meaningful step toward potential listing. Canada, though, is already ahead, with several Solana ETFs launching there in April.
Elsewhere, OKX is expanding in Europe with regulated exchanges in Germany and Poland. The platform now offers spot trading, staking, and over 60 crypto-Euro pairs in those markets. “These are key regions for us,” said OKX Europe’s CEO, Erald Ghoos, emphasizing compliance with MiCA regulations.
Markets React to Geopolitical Tensions
Bitcoin dipped briefly to $103,396 amid escalating Middle East tensions before bouncing back, likely propped up by ETF inflows. Ethereum, meanwhile, held steady above $2,460 but still faces resistance near $2,800.
Traditional markets weren’t as resilient. The Nikkei 225 slipped 0.15%, and the S&P 500 closed down 0.84% as investors weighed reports of potential military action involving Iran. Gold, often a safe haven, stayed rangebound below $3,400 as traders waited for clearer signals from the Fed.
It’s one of those days where everything feels connected—regulation, geopolitics, institutional money. And for Ethereum, at least, the pieces might finally be falling into place.
