Ethereum co-founder Joseph Lubin predicts that demand for ETH will outpace supply within approximately two years as financial institutions and infrastructure providers move onto the network. Lubin made the remarks during an online discussion with Jeff Dorman, chief investment officer at crypto fund Arca.
Lubin identified several mechanisms he believes will tighten ETH supply. These include competition for high-value block space from users, staking that locks up tokens, continued purchases by digital asset treasuries, and increased ETH burning from higher network activity. He characterized these forces as the "monetary premium" of Ethereum.
"In perhaps 2 years no platform will have anywhere close to the monetary premium of ETH," Lubin stated.
The remarks contrast with current market conditions. ETH has declined more than one-third in value over the past year and trades below half its August 2025 all-time high. Some traders suggest the recent pullback mirrors a similar mid-2025 decline that preceded a sharp rally.
Lubin acknowledged that crypto has yet to achieve meaningful mainstream adoption. He noted that most people currently buy ETH and Bitcoin for speculative holdings rather than practical use. However, he credited regulatory clarity from SEC Chair Paul Atkins and CFTC Chair Michael Selig, and highlighted MetaMask's evolution into a self-custody financial application.
Dorman remained skeptical of Lubin's thesis, arguing that after a decade, the rationales for owning layer-1 tokens remain unconvincing.
Lubin has previously made bullish calls on Ethereum and supports Ethlabs, a nonprofit focused on preparing Ethereum for institutional adoption.
