Lubin says institutional demand will outrun ETH supply

The prediction

Ethereum co-founder and MetaMask CEO Joseph Lubin said demand for ETH should outgrow supply as financial institutions move onto the network. He made the forecast in a debate on X with Jeff Dorman, chief investment officer of the crypto fund Arca, according to BeInCrypto Brasil on 12 November 2026.

Dorman questioned whether supporters of ETH can explain what gives the token its value. Lubin replied, according to the report, that Dorman was looking at a snapshot of the current situation and ignoring what he described as the asset's inevitable path.

What Lubin points to

Lubin said financial institutions and the market infrastructure behind them are already on Ethereum, and that more are arriving. He also said Consensys, the software company he leads, works with some of those institutions. Consensys recently spun MetaMask out as an independent company.

On supply, Lubin said several factors should restrict it, including users competing for larger blocks. The report does not give further detail on the mechanisms he named.

He also acknowledged that the network has not yet reached significant use by the general public, according to BeInCrypto Brasil.

What is not settled

The demand-versus-supply claim is Lubin's forecast, not a reported market outcome. The report does not publish figures behind it, nor a timeline matching a two-year horizon, and does not say how Dorman responded after Lubin's reply.

Arca's Dorman raised the question of the token's value; the account does not indicate that the debate ended in agreement.