- Van Eck said stablecoin adoption forces banks to integrate blockchain rails, with Ethereum’s EVM making it the likely foundation.
- Institutional demand and ETF inflows underscore Ethereum’s growing role as both innovation layer and financial infrastructure backbone.
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Ethereum's ETH/USD position in global finance is strengthening, with VanEck CEO Jan van Eck describing it as "the Wall Street token."
What Happened: "Ether has suddenly reared its head and hit new records. It’s very much what I call the Wall Street token," van Eck said in an interview with Fox Business.
He explained that the rise of stablecoins has forced financial institutions to adapt quickly, creating an environment where Ethereum's infrastructure is increasingly indispensable.
"If I want to send you stable coins, your bank has to figure it out or you will find some other institution to do that," he added.
According to van Eck, Ethereum's design and compatibility through the Ethereum Virtual Machine (EVM) position it as the natural choice for financial services adoption.
"It's going to be some Ethereum or something that uses Ethereum's kind of methodology, which is called EVM," he said.
He emphasized that institutional decision-makers will need to decide what blockchain infrastructure to build on, and Ethereum remains the frontrunner.
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"The Wall Street CTO is going to turn around saying, what the hell is this stuff? When am I going to build on? And it’s going to be Ethereum," he added.
The remarks come as Ethereum recently hit fresh record highs, buoyed by growing stablecoin settlement volumes and expanded integration into banking systems.
Why It Matters: ETF data further underscored this momentum.
Spot Ethereum ETFs recorded $307 million in net inflows on Wednesday, led by BlackRock's ETHA with $262.6 million, followed by Fidelity's FETH with $20.5 million, according to SoSoValue.
Grayscale's Mini Ethereum Trust ETH and ETHE also saw inflows, along with VanEck's ETHV.
By contrast, spot Bitcoin ETFs drew $81.3 million in net inflows, marking their third consecutive day of gains but still lagging behind Ethereum-focused products.
Analysts at K33 noted that Bitcoin BTC/USD may remain under pressure as investors continue rotating capital into Ethereum, exposing the leading cryptocurrency to near-term weakness.
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