But to us there is but one God, the Father, of whom are all things, and we in him; and one Lord Jesus Christ, by whom are all things, and we by him.
To us - believers. Of whom - from whom, as the First Cause and Source. Creation is His exclusive prerogative.
We in him - rather, 'we for Him,' or 'unto х eis (G1519)] Him.' God the FATHER is the end for whose glory believers live. In Colossians 1:16 all things are said to be created "by" Christ, and also "for Him" (CHRIST). So entirely are the Father and Son one (cf. Romans 11:36; Hebrews 2:10). The Holy Spirit, who brings all to their Source, is implied in "for Him."
One Lord - contrasted with the "lords many" of pagandom (1 Corinthians 8:5). Their notions of Godhead were vague: Lordship is perfectly realized only in God-Christ (1 Corinthians 15:24-25).
By whom - as mediating agent of the Physical and Spiritual Creations (John 1:3; Hebrews 1:2).
We by him - as all things are "of" the Father as their Source, so they (we believers especially) are restored to Him by the new creation (Colossians 1:20; Revelation 21:5). As all things are by Christ by creation, so they (we especially) are restored by Him by the new creation.