Ethereum Co-Founder Joe Lubin Claims ETF Approval Will Transform the Market

This week is one of the most important in crypto’s short history. On Wednesday, there was a surprise surge of support across party lines for a crypto regulation bill in Washington, D.C. 

In a surprising move at the last minute, the U.S. Securities and Exchange Commission (SEC) approved spot Ethereum ETFs the next day.

For Ethereum co-founder and Consensys CEO Joe Lubin, these events—especially the SEC’s reversal on Ethereum—mark a monumental change in the treatment of crypto in the United States and set a new direction for the future.

“This is a game changer,” Lubin stated in an exclusive interview with Decrypt.

Lubin started the $7 billion Ethereum software company Consensys. Right now, Consensys is in a lot of legal trouble with the SEC over the legal standing of cryptocurrencies. 

It’s been made public that Consensys is one of 22 backers in Decrypt. However, Lubin thinks that this week’s events have raised crypto’s profile in American politics, which could change how these legal fights play out.

The man said, “I think this is now a very important political issue.” “And that takes precedence.”

“The blockchain decentralized protocol ecosystem will likely need to be on your side if you want to win,“ Lubin said. “Or you don’t want them to dislike you.”

Lubin thinks that the SEC’s decision to allow spot ETH ETFs was a political move made at the last minute, possibly in response to a request or even an order from the White House.

Several crypto lobbyists in Washington, D.C., told Decrypt that they think this political pressure came from recent events linked to the election. 

Even though the SEC’s silence on crypto makes it seem like its position hasn’t changed, political forces may have stopped it from taking strong judicial action against major American crypto companies like Consensys.

But Lubin is still being careful.

He said, “We have to stay alert.” “We can’t be sure that there won’t be any more attacks.”