VanEck CEO Says Ethereum Is the Wall Street Token

Ethereum (ETH) is steadily rising in position in the crypto industry. According to Jan Van Eck, CEO of VanEck, Ethereum is becoming an integral part of the crypto sector’s stablecoin ambitions. Jan van Eck appeared for an interview with Fox Business, in which he claimed that Ethereum will become the key blockchain for financial institutions and banks as the adoption of stablecoin accelerates. Calling ETH the "Wall Street Token," van Eck said the platform’s established infrastructure and developer ecosystem makes it the logical choice for large-scale integration.

“It’s very much what I call the Wall Street token. If you think about stablecoins, now every bank and every financial services company has to have a way of taking them in. The winner will be whichever blockchain supports that infrastructure—and Ethereum is best positioned,” van Eck explained.

VanEck Calls Ethereum Wall Street’s Token

Van Eck emphasized that Ethereum’s methodology and compatibility with enterprise-grade solutions could ensure its dominance. He also said that even if other options come up, they will probably use Ethereum's structure and technology, which will make it even more powerful as the standard.

Ethereum's perceived advantage comes at a time when there are big changes in policy. The U.S. House of Representatives enacted the GENIUS Act last month. President Donald Trump signed it into law. This is the first federal law in the U.S. that is only on payment stablecoins. This legal validation has given a boost to a market that is already growing quickly, with the total quantity of stablecoins now above $280 billion.

For banks, this regulatory clarity signals an urgent need to adapt. “Companies have to employ technology to enable stablecoin usage over the next 12 months. If I want to send you stablecoins, your bank has to figure it out—or you’ll go to another institution that can,” van Eck said.

His comments echo sentiments made earlier by Eric Trump, executive vice president of the Trump Organization, who warned in April that banks must adopt crypto solutions within the next decade or risk extinction.

The financial industry appears to be heeding the call. A report from Fireblocks in May revealed that 90% of surveyed institutional players are actively exploring the integration of stablecoins. This wave of adoption, van Eck believes, will push Ethereum further into the mainstream as the go-to settlement layer for digital dollars.

The narrative is also being reinforced by corporate treasuries. In recent months, companies have acquired more than $6 billion worth of Ether, with BitMine and SharpLink among the most aggressive buyers. Analysts say this adoption of treasury is giving Ethereum a clearer narrative for traditional investors, bridging the gap between decentralized technology and conventional finance.

VanEck itself has stakes in the game. The asset manager was approved by the U.S. Securities and Exchange Commission in July 2024 to launch an Ether exchange-traded fund (ETF). While the product does not hold ETH directly, it tracks the cryptocurrency’s price and has already amassed more than $284 million in assets under management. Van Eck’s bullish comments also come as Ether recently surged to a new all-time high, briefly crossing $4,946 before settling around $4,566. The rally reflects not only retail enthusiasm but also institutional inflows that are increasingly shaping Ethereum’s trajectory.