Ethereum co-founder and Consensys CEO Joseph Lubin just gave ETH bulls something to chew on. In a post on X, he applauded Fundstrat’s Tom Lee on his vision for the future of finance and the expanding role of Ethereum in traditional institutions.
“Yes, ETH will likely 100x from here. Probably much more.”
Joseph Lubin agrees; Wall Street will stake on Ethereum
As a blockchain pioneer, Joseph Lubin is best known as a co-founder of Ethereum and the founder and CEO of Consensys, the largest web3 software studio. Drawing on deep roots in finance as a former Goldman Sachs VP, Lubin has been instrumental in developing Ethereum as the preeminent platform for decentralized finance and smart contracts since 2014.
Responding to Tom Lee’s bullish outlook, Lubin predicts a seismic shift in global finance: Wall Street giants will soon run validators, operate L2s and L3s, and write smart contracts to move their business infrastructure onto Ethereum rails.
JPMorgan, for example, has used Ethereum-based technology for its permissioned blockchain projects for about a decade and is joined by Goldman Sachs, Onyx, and a growing roster of major banks launching stablecoin and DeFi initiatives on Ethereum.
Since June 2025, treasury companies, including Bitmine Immersion and Sharplink Gaming, have added 2.6% of all ETH in circulation to their reserves.
When combined with inflows to new ETH ETFs, institutional buyers account for nearly 5% of Ethereum’s supply so far this year. Sharplink and Bitmine now hold over $6 billion in ETH, setting industry benchmarks for corporate adoption.
And with the approval of multiple Ethereum ETFs, asset managers like BlackRock and VanEck have invested billions into ETH for their clients, marking a tipping point in its adoption as a primary digital asset for institutional treasuries.
Why Ethereum? ‘Decentralized trust’
VanEck’s CEO recently dubbed Ethereum “Wall Street’s token,” and Lubin argues that the transformative potential of Ethereum derives from “decentralized trust,” a quality Wall Street sorely needs.
As legacy institutions migrate from fragmented, siloed infrastructure to unified decentralized rails, staking ETH becomes both a technical and economic imperative:
“Nobody on the planet can currently fathom how large and fast a rigorously decentralized economy, saturated with hybrid human-machine intelligence, operating on decentralized Ethereum Trustware, can grow.”
In his view, not only will L2s and L3s drive more usage of the Ethereum base layer, but “ETH will likely 100x from here” and eventually “flippen the Bitcoin/BTC monetary base.”
September is Ethereum’s toughest month
Ethereum’s surging momentum doesn’t come without bumps in the road. September is historically Ethereum’s toughest month, averaging a -6.42% return since 2016.
The combination of a meteoric summer rally (up 76% year-to-date, nearly 25% in August) and seasonal trends may see a pullback in the month ahead, especially as macro sentiment, monetary policy, and profit-taking could weigh on prices.
Still, bullish fundamentals remain. Net ETH inflows from institutions, the steady climb in corporate treasury holdings, rising yields from staking (~3% APY), and ongoing upgrades all point to a stronger long-term outlook, as Lubin states:
“The one quibble that I have with what Tom has been saying, and I keep telling him this: he is not nearly bullish enough.”