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.