Haciyev Reşit 
Jan van Eck, CEO of investment management giant VanEck, made notable remarks about Ethereum. Speaking to Fox Business, van Eck stated that banks and financial institutions will prefer Ethereum for conducting stablecoin transactions, making ETH the “Wall Street token.”
Ethereum to Become the Core Blockchain for Stablecoins
Van Eck explained that every bank and financial company will be obliged to transact with stablecoins, saying:
“I call it the Wall Street token. Once stablecoins enter our lives, every bank and financial service company will need to accept them. The winner will be Ethereum or any chain using Ethereum methodology (ECM).”
Recently, the stablecoin market has experienced significant growth, with total supply surpassing $280 billion. The Genius Act, approved by the U.S. Congress and signed by President Donald Trump, became the country’s first federal stablecoin regulation.
“Compliance Obligation” for Banks
VanEck’s CEO noted that many companies are quickly adopting stablecoins, and banks will have to keep up with this transformation.
“If I want to send you a stablecoin, your bank has to handle it. Otherwise, you’ll find another institution that will.”
According to a report by Fireblocks, a corporate-level digital asset platform, 90% of institutional investors are exploring stablecoin use. This indicates that Ethereum is poised to play a critical role in the financial sector going forward.
Support from the Trump Side
In April, Eric Trump expressed a similar view, stating that banks must adopt crypto, or they risk disappearing over the next decade.
Jan van Eck’s comments are particularly significant given his company’s Ether-based ETF product. In July 2024, the U.S. SEC approved VanEck’s ETH ETF, which tracks the price of Ether and currently holds over $284 million in assets.
ETH Record and Treasury Purchases
Ethereum reached an all-time high of $4,946 in August. At the time of writing, ETH was trading around $4,578, down about 1%.
Meanwhile, institutional companies have also begun accumulating ETH. Over the past month, more than $6 billion worth of Ether has been purchased. Among the most active buyers are BitMine and SharpLink.
Bitwise CIO Matt Hougan stated that corporate adoption of Ethereum:
“solves ETH’s narrative problem” and presents the digital asset in a format that traditional investors can understand.