Ava Labs President John Wu ‘Very Positive’ on Ethereum ETFs – Here’s Why
The president of Ava Labs, the team behind layer-1 blockchain Avalanche (AVAX), says that he’s optimistic about Ethereum (ETH)-based exchange-traded funds (ETFs). In a new interview with Bloomberg Television, Ava Labs president John Wu says that over time, Ethereum ETFs will find success due to the competitive nature of the decentralized finance (DeFi) sector. “I don’t think anyone anticipated [the] Ethereum ETF to be as successful as the Bitcoin ETF was, but in reality, Bitcoin really has just one competitor – that’s gold. Ethereum is about utility and creating use cases. They actually have many, many competitors, from Avalanche to Solana to a whole bunch of others. And so you have a situation where the supply – because it’s an earned proof-of-stake model – is increasing and yet transactions are just kind of steady. So there’s a little bit of imbalance, but I am very positive that over time it is still in a pull position and ...