Yes! The same Vela account can be used to manage as many Etsy shops as you like. To do so, click the shop selection dropdown, located in the top left hand corner of the main listings page and choose, "Add Shop".
Next, you'll be redirected back to Etsy's login page and just need to sign in to the next shop you'd like to add. Once imported, all shops will appear in the shop selection dropdown, allowing you to easily switch between them.