Jan van Eck, CEO of VanEck, stated that the cryptocurrency market is undergoing a significant shift in sentiment, which is related to the rule change approved by the US Securities and Exchange Commission to allow Ethereum exchange-traded funds to be traded. Eck said that this is indeed one of the most surprising securities regulatory changes I have seen in my career. The US Securities and Exchange Commission may indeed lose jurisdiction over digital assets. Therefore, our first reaction is to approve the Ethereum ETF, but I think there is a bigger reason.

Van Eck said that the "21st Century Financial Innovation and Technology Act" passed by the House of Representatives on May 8 is another major step towards clarifying cryptocurrency regulation, although he expressed doubts about whether the bill can enter the Senate before the election.