We propose a new construction of vertex operators of the elliptic quantum toroidal algebra by combining representations of the algebra and formulas of the elliptic stable envelopes for the quiver variety . Compositions of the vertex operators turn out consistent to the shuffle product formula of the elliptic stable envelopes. Their highest to highest expectation values provide K-theoretic vertex functions for . We also derive exchange relation of the vertex operators and construct a -operator satisfying the relation with and being elliptic dynamical -matrices defined as transition matrices of the elliptic stable envelopes. Assuming a universal form of and defining a comultiplication in terms of it, we show that our vertex operators are intertwining operators of the -modules w.r.t .

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