VanEck Calls Ethereum ‘Wall Street Token’ Amid ETF Demand Surge
VanEck CEO Jan van Eck has dubbed Ethereum (ETH) the “Wall Street token,” citing its smart contracts, staking and role in stablecoin payments, DeFi projects and tokenized assets as core drivers of institutional adoption. He credited the GENIUS Act for bringing dollar-backed stablecoins into the regulated financial system and said banks will soon build on Ethereum or EVM-compatible networks to handle stablecoin flows.
Data shows over 19 public companies hold 2.7 million ETH in treasury reserves and use staking to earn yield. Ethereum ETF exposure now totals $1.3 billion, with more than half managed by Goldman Sachs. VanEck launched its Ethereum ETF in July 2024 and currently oversees over $4 million in assets, highlighting growing confidence in ETH.
On the market side, SharpLink Gaming added 56,533 ETH, taking its holdings to nearly 800,000 tokens. Ethereum ETFs have outperformed Bitcoin ETFs for seven consecutive days. Analysts project the stablecoin market could reach $3.7 trillion by 2030, with Citigroup forecasting a sevenfold rise in five years. At press time, ETH trades at $4,473, down 3.2% in 24 hours.
Bullish
This news is bullish for ETH. In the short term, profit-taking may cause minor price dips—as seen in the recent 3.2% drop—but strong ETF inflows, institutional treasury holdings and the GENIUS Act’s regulatory clarity provide robust buying support. Over the long term, continued ETF launches, expanded staking yields and banks migrating stablecoin operations to Ethereum or EVM networks will drive sustained demand. The projection of a $3.7 trillion stablecoin market by 2030 and growing corporate ETH reserves reinforce positive sentiment and market stability.