It opens with, “Being submissive (hypotassō) to one another in reverence for Christ.” Verse 22 states, “wives to your own husbands, as to the Lord.”
Therefore, when a Bible translator separates verses 21 and 22 into different paragraphs, it leaves verse 22 without a verb.
As a result, one cannot accurately interpret this phrase as applying to only women.
In the NT, subordination involves placing oneself under someone else. Yet, it does not necessarily imply obedience.
Accounts from the book of Acts indicate that Paul would not have condoned women following their husbands into sinful practices (Acts 5:1–11, 27–29). He also never advocated that they subject themselves to abuse (Eph 5:25–30).
Regarding verse 24, R. C. Sproul wrote this:
There is a teaching which has gone widely through evangelical Christianity which says that for a woman to be obedient to this passage, she must obey her husband no matter what he tells her to do. This is not true.
For example, if her husband tells her to live a life of prostitution, she is to show her obedience to Christ by disobeying her husband’s wicked commands.
That woman must disobey her husband, because her husband is commanding her to do something that God forbids. Similarly, if the husband forbids her to do something that God commands, she must disobey her husband.
In other words, our allegiance to the Lord trumps our loyalty to our spouses (Acts 4:16–20).
In all five NT usages of “head” (kephalē) concerning Christ and the church, the word depicts Jesus as the nurturer who provides for our growth and well-being (Eph 1:22–23; Eph 4:15–16; Col 1:18–20; and Col 2:18–19). Scripture does not describe him as one who wields authority over his people. Thus, Christ does not hold headship over the church—but for it—as our servant-provider.
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Read Eph 5:21–24. How does the masculine plural form of the verb meaning “being submissive” affect your understanding of this passage? Why should a wife submit to her husband? How do the NT texts depict Christ’s headship? What does this mean for Christian husbands?
[Related posts include Unity in the Spirit (Eph 5:18–21); Sacrificial Love (Eph 5:25–30); Partners in Ministry (Acts 18:1–3, 18–20, 24–26 and 2 Ki 22:11–23:4); Effects of the Fall Reversed (Rom 5:12–21 and Rom 16:1–12); Dissolution of Marriage (1 Cor 7:15–16); Three Heads (1 Cor 11:3); Interdependence (1 Cor 11:11–12); A Minority Religion (1 Pet 3:1–2); In the Spirit of Sarah (1 Pet 3:3–6); and Living Together with Understanding (1 Pet 3:7–9)]
Wallace, Greek Grammar Beyond the Basics: An Exegetical Syntax of the New Testament, 651.
Longenecker, Galatians, 297.
Gerhard Delling, “′υποτασσω” (hypotassō), TDNT 8:39–46, 41.
Arnold, Ephesians, 380.
R. C. Sproul, The Purpose of God: Ephesians (Scotland: Christian Focus, 1994), 135–6.
Gilbert Bilezikian, “I Believe in Male Headship,” http://www.cbeinternational.org/resources/article/other/i-believe-male-headship.
 Arnold, Ephesians, 356.