Etherealize raises $40M to market Ethereum, firms add $1.2B this week

Electric Capital and Paradigm helped raise $40 million for the Ethereum advocacy company Etherealize as public firms added billions worth of Ether.

Ethereum advocacy firm Etherealize has closed a $40 million funding round to help it pitch the blockchain to Wall Street in a week that’s already seen public firms add over $1.2 billion worth of Ether to their treasuries. 

Etherealize said on Wednesday that the crypto-focused venture firms Electric Capital and Paradigm led the round, which it would use to “continue driving institutional adoption of Ethereum.”

The company launched in January with funding from the Ethereum Foundation and Ethereum co-founder Vitalik Buterin to educate institutions on the blockchain and the Ether (ETH) token.

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