Joe Lubin: US SEC approval of spot Ethereum ETF may lead to supply crunch
Joe Lubin, co-founder of Ethereum and founder and CEO of ConsenSys, a cryptocurrency infrastructure company, said that the US Securities and Exchange Commission is finally ready to approve a spot Ethereum ETF. The resulting "gate" of demand for Ethereum could lead to supply shortages.
Lubin said that institutions that have already invested in Bitcoin through the newly launched ETF for the asset are likely to want to diversify their investments with a second approved ETF.
He said that buying Ether through an ETF will create significant natural and suppressed pressure, but compared to when a spot Bitcoin ETF was approved in January, the supply to meet this demand will be reduced.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin metric breakout teases 'inevitable' 90% BTC price rally next
Morpho (MORPHO): Unlocking the Power of Decentralized Lending
What is Morpho (MORPHO)? Morpho (MORPHO), previously known as Morpho Blue, is a decentralized lending and borrowing protocol that operates on the Ethereum blockchain and other compatible networks. Its primary purpose is to facilitate overcollateralized loans—a system where borrowers must deposit co
ACRA analysts listed the regions of Russia that are optimal for mining
Dogecoin Chart's Second Bull Flag Will Lead to $0,90 Breakout
Trending news
MoreCrypto prices
More
