Wall Street is finally no longer playing with concepts, and is starting to treat Ethereum as serious infrastructure, just the price hasn't caught up with the pace yet.

CryptoWorld News reports that Etherealize founder Vivek Raman stated that Wall Street is gradually moving beyond crypto pilots and getting into the practical applications of Ethereum. He noted that after years of pilots and experiments, large financial institutions are increasingly viewing public blockchains as production infrastructure rather than emerging technology. Raman believes that stablecoins were the industry’s first institutional use case, but discussions have now expanded to tokenized stocks, bonds, real estate, and investment funds. Despite growing institutional interest, this has not directly translated into Ethereum’s market performance; Raman mainly attributes the gap to timing. He believes Ethereum is currently in a transition phase: the infrastructure is largely in place, but large-scale adoption has not yet been fully reflected in the assets themselves.