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A fundamental theorem in the theory of Vertex algebras (known as Zhu’s theorem) demonstrates that the space generated by the characters of certain Vertex algebras is a representation of the modular group. We will cast this theorem in the language of homotopy theory using the language of conformal blocks. The goal of this talk is to justify the claim that equivariant elliptic cohomology, seen as a derived spectrum, is a homotopical analog of Zhu’s theorem in the special case of the Affine Vacuum vertex algebra at a fixed integral level. The talk will not require knowing the definition of Vertex algebras or conformal blocks.