VanEck CEO Jan van Eck has officially labeled Ethereum (ETH) as "the Wall Street token" during a recent appearance on Fox Business. He emphasized Ethereum's central role in the growing stablecoin ecosystem that is being adopted by financial institutions worldwide. "It's going to be Ethereum or something else that uses Ethereum's kind of methodology called EVM," van Eck stated, highlighting the network's foundational importance.
The endorsement comes alongside significant institutional investment activity. BlackRock's ETHA Ethereum ETF attracted $262 million in inflows on Wednesday alone, demonstrating sustained institutional demand. The fund now boasts over $17 billion in total assets. Meanwhile, VanEck's own ETHV ETF has drawn a more modest $3.35 million in inflows.
Adding to the bullish sentiment, blockchain analytics firm Lookonchain reported a whale accumulating an Ethereum long position approaching $298 million. This substantial bet underscores high-confidence institutional positioning, though the position faces liquidation risk if ETH drops below $4,343. Ethereum is currently trading at $4,571 according to CoinGecko data.
Van Eck elaborated on his "Wall Street token" characterization, noting that "every bank and every financial services company has to have a way of taking in stablecoins," positioning Ethereum at the center of this financial infrastructure shift. The network's hosting of the second-largest USDT supply and its growing role in real-world asset tokenization further solidifies its institutional credentials.