Joe Lubin, co-founder of Ethereum and founder and chief executive of crypto infrastructure company Consensys, said the Securities Exchange Commission was finally ready to approve a spot Ethereum ETF. The resulting "floodgates" of demand for Ethereum could lead to a supply crunch.
Lubin said that institutions that have already received bitcoin investments through the asset's newly launched ETF are likely to want to diversify into a second approved ETF.
He said that buying ether through an ETF would create considerable natural, pent-up pressure, but there would be less supply to meet that demand than when the spot bitcoin ETF was approved in January.
Joe Lubin: SEC approval of spot Ethereum ETF could cause ETH supply crunch
2024-05-22 01:08:28
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