Massive Crypto Potential: Ethereum’s Joseph Lubin Highlights Billions Awaiting ETFs
Joseph Lubin, the CEO of Consensys and a co-founder of Ethereum, recently discussed the vast reservoir of sidelined funds eagerly awaiting the arrival of cryptocurrency exchange-traded funds (ETFs).
fIn a recent CNBC interview, Lubin shed light on the substantial funds held by professionals entrenched in traditional finance. These funds are poised for a regulated and more accessible avenue to engage with digital assets through the recently approved ETFs.
According to Lubin, a significant pool of funds exists, potentially reaching hundreds of billions of dollars, managed by registered investment advisors (RIAs) overseeing various funds, including retirement funds and companies. These entities are actively seeking opportunities to delve into technology and gain exposure to uncorrelated assets or digital asset classes.
Lubin noted a surge in speculative activities within the cryptocurrency industry, especially in the valuation of Bitcoin. He remarked, that a substantial amount of money, conceivably in the range of hundreds of billions of dollars, is currently on standby, eagerly awaiting opportunities to enter and gain exposure to this rapidly evolving asset class.
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While recognizing that the SEC does not directly communicate its plans to the Ethereum Foundation, Lubin suggests that, following Bitcoin, Ethereum (ETH) emerges as a strong contender for the next ETF approval. He argued, “Ethereum stands out as arguably the most mature and extensive ecosystem. Serving as a decentralized applications platform, it boasts robust infrastructure and a global network of activities. While Bitcoin is more specialized, it represents a reasonably mature technology, making both cryptocurrencies highly eligible.”
In contrast, Lubin pointed out that Solana, despite its commendable technological attributes, still grapples with establishing itself as a mature ecosystem when compared to Ethereum and Bitcoin.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
