During a recent interview on Fox Business Share his point of view What the cryptocurrency has become the best choice between Wall Street investors. He made it clear that the answer is not XRP, a symbol that many people expect to fill this role. According to him, ethereum The main option for banks and large financial companies has become due to the appearance of Stablecoins, digital currencies, and institutions that want to remain competitive and cannot ignore.
Ethereum “Wall Street Taken” was crowned by the CEO of VANECK
Jean Van Ek said Ethereum is Blockchain To which Wall Street institutions are increasingly turning as their smart contracts and features provide practical applications in financing. According to Vaneck CEO, this may be the reason why the digital currency has become An integral part of financial systems todayWith institutions that already use Ethereum for Stablecoin payments, decentralized financing projects, and distinctive assets.
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The data indicates that more than 19 public companies maintain 2.7 million Shatt In the cabinet. Many of these companies use income to generate fixed income. Investment consultants also participate, with $ 1.3 billion in Ethe etf exposureGoldman Sachs is more than half of this amount.
VANECK himself joined this direction. In July 2024, the Global Investment Management Company launched more than $ 4 million of assets. While the fund traces the price of the ether without keeping the actual symbols, it emphasizes the confidence of the CEO of Ethereum Long -term role in global financing.
Boom Stablecoin strengthens the role of Ethereum institutional
VAN ECK also connected ETHEREUM as a rapid expansion of Stablecoins. It indicates GeniusA new law was approved earlier this year, which gave banks and institutions more confidence in the use of US dollar -backed Stablecoins. The Stablecoins Law brought to the regulatory financial system, and VAN ECK said that this has strengthened the role of ETHEREUM only as the backbone of digital financing.
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“Every bank and every financial services company must have a way to take Stablecoins,” said Van Ike. He added that the banks will have to be in the end Based on ethereum Or on chains that are used “ETHEREUM type of methodology”.
Currently, Ethereum controls more than 50 % of the Stablecoin market of $ 280 billion, and experts say this number can Growth into trillion In the coming years. VAN ECK says Ethereum can benefit more than Stablecoins by more banks and institutions. For Vaneck CEO, Ethereum is more than just altcoin; It is now the network in Future Financial World Center. For this reason, it was called “Wall Street Tokeen” and expects to play a leading role in the Stablecoin and Digital Dollar Revolution.
Distinctive image from Dall.e, Chart from TradingView.com
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