SEC Approval of Ethereum ETFs: A Potential Game-Changer for Crypto Investing

VanEck CEO Jan van Eck highlights a significant shift in the cryptocurrency market after the SEC approved Ethereum exchange-traded funds (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.”

VanEck, the first to apply for an Ethereum ETF, can now proceed to market, though the timeline is unclear. Van Eck noted the SEC’s quick approval aimed to retain jurisdiction over digital assets. He also sees this as part of a broader trend towards clearer crypto regulation and increased investor interest.

Van Eck cited the Financial Innovation and Technology for the 21st Century Act (FIT21), passed in the House on May 8, as crucial for regulatory clarity, although he doubts it will pass the Senate before the election.

Ether spiked after the SEC’s approval but has since remained flat.

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