Significant Financial Reserves Poised for Crypto Involvement, Notes Ethereum Co-Founder Joseph Lubin on ETF Anticipation
Joseph Lubin, the CEO of Consensys and co-founder of Ethereum (ETH), emphasizes the significant amount of sidelined capital awaiting the introduction of crypto exchange-traded funds (ETFs).
Lubin, in a CNBC interview, highlights the presence of hundreds of billions of dollars held by professionals in traditional finance, eager for regulated exposure to digital assets through ETFs. He notes that registered investment advisors (RIAs) managing funds such as retirement funds are keen on gaining access to uncorrelated assets in the digital asset space. While there has been speculation driving up Bitcoin prices in anticipation of ETFs, Lubin points out that a substantial pool of money, potentially in the hundreds of billions, is on standby, ready to enter and gain exposure to this asset class.
Regarding potential ETF approvals, Lubin suggests that Ethereum, with its mature and deep ecosystem, is a strong candidate after Bitcoin. He sees Ethereum as a prime option due to its extensive infrastructure and global decentralized applications. In contrast, he views Solana as a promising technology but lacking the maturity of an established ecosystem.
Clever Robot News Desk 11th January 2024
