A significant change in cryptocurrency investments could occur following the SEC’s decision on Ethereum ETFs.

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Jan van Eck, the CEO of VanEck, talks about the change in the cryptocurrency market sentiment after the US Securities and Exchange Commission’s approval of a rule allowing for Ethereum exchange-traded funds (ETFs). VanEck was the first to request permission to list their proposed Ethereum ETF, showing a positive development for the industry. The approval of applications to list Ethereum ETFs on May 23 caused an increase in Ether prices, indicating a growing interest in the cryptocurrency from investors.

Van Eck believes that the approval of Ethereum ETFs and the passing of the Financial Innovation and Technology for the 21st Century Act (FIT21) in the House are crucial steps towards bringing more clarity to the regulations of cryptocurrencies. While there are uncertainties regarding FIT21 passing in the Senate before the election, van Eck remains positive about the future of digital assets.

Overall, these recent events suggest a more defined regulatory framework and a greater confidence among investors in cryptocurrencies such as Ethereum. This positive momentum is expected to fuel further growth and innovation in the crypto market.

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