Jan van Eck, CEO of VanEck, said that a major sentiment shift is taking place in the cryptocurrency market, which is related to the US SEC's approval of a rule change that allows Ethereum spot ETFs.
Eck said: "This is really one of the most amazing things I have seen in securities regulation in my career. The SEC is indeed in danger of losing jurisdiction over digital assets. So our first reaction is to get the Ethereum (spot) ETF approved, but I think there is a bigger reason."
Eck said that the 21st Century Financial Innovation and Technology Act, passed by the House of Representatives on May 8, is another big step towards clarity in cryptocurrency regulation, although he doubted whether the bill could enter the Senate before the election. (CNBC)