VanEck CEO: SEC's ruling on Ethereum ETF may signify a historic shift in crypto investment

VanEck CEO Jan van Eck stated that a significant sentiment shift is occurring in the cryptocurrency market, which is related to the U.S. Securities and Exchange Commission's approval of rule changes allowing Ethereum exchange-traded funds. Eck said this is indeed one of the most surprising things I've seen in my career in securities regulation. The U.S. Securities and Exchange Commission could potentially lose jurisdiction over digital assets. Therefore, our first reaction was to get the green light for Ethereum ETFs, but I think there are bigger reasons behind it. Van Eck stated that the "21st Century Financial Innovation and Technology Act" passed by the House of Representatives on May 8th represents another major step towards clarifying cryptocurrency regulations, although he expressed doubts about whether this bill can enter the Senate before elections.