VanEck CEO Jan van Eck predicts a huge cryptocurrency market attitude shift due to the SEC’s approval of Ethereum ETFs.
“This is really one of the most amazing things that I’ve seen in my career with respect to securities regulation,” van Eck told CNBC’s “ETF Edge” this week.
VanEck was the first to request SEC approval for its Ethereum ETF. After clearing that first obstacle, VanEck can start bringing the product to market, though the timetable is unclear.
“The SEC risked losing jurisdiction over digital assets. He stated the first step was to approve the Ethereum ETF. I think there’s a bigger story too.”
Ethereum’s buzz this May suggests clearer regulation and more crypto investor interest, according to van Eck. The corporation stated on its website that ETH is a decentralised commodity, not a security, citing proof.
Financial Innovation and Technology for the 21st Century Act, or FIT21, passed the House on May 8, providing another step towards regulatory certainty for cryptocurrencies, though Van Eck doubts it will reach the Senate before the election.
Ether rose when the SEC approved Ethereum ETF applications on May 23, but has since remained unchanged.
Source : CNBC ETF Edge
