Ethereum may soon become the go-to blockchain for stablecoins, according to Jan van Eck, CEO of the global investment firm VanEck. In a recent interview with Fox Business, van Eck called Ethereum “the Wall Street token,” predicting it will play a critical role in future financial infrastructure as the demand for stablecoins accelerates.
Stablecoins Are Going Mainstream — And Ethereum Is at the Center
With over $280 billion worth of stablecoins now in circulation, financial institutions are under increasing pressure to integrate blockchain-based payment systems. Van Eck argues that traditional banks and financial services can no longer ignore the growth of stablecoins.
He pointed to the recently passed U.S. Genius Act, a federal law that introduces regulations specifically for payment stablecoins. According to van Eck, this legislation sends a clear message: banks must start supporting digital dollar transactions within the next year or risk falling behind.
A recent survey by Fireblocks backs up his claims. The data shows that 90% of institutional players are already exploring stablecoin adoption, indicating that the shift to blockchain-based finance is not just a trend—it’s a necessity.
Ethereum’s Institutional Momentum Keeps Growing
Ethereum’s rise as the dominant platform for stablecoins also aligns with its recent performance in the market. The cryptocurrency recently hit a new all-time high of $4,946, driven by increased institutional interest and adoption.
VanEck itself is part of that movement. The firm manages a U.S. Securities and Exchange Commission (SEC)-approved Ether ETF, which currently holds over $284 million in assets tied to ETH prices. This investment further signals growing confidence in Ethereum as a long-term financial asset.
As regulation catches up with innovation, and traditional finance embraces digital infrastructure, Ethereum’s role in powering stablecoin transactions could solidify its status as the financial backbone of the next decade.
