Is there (or will be) a tethering/access point option in ubuntu phone?

Solution 1:

There is support for USB tethering, meaning you have to connect the phone to your PC with an USB cable to access the internet. You can enable USB tethering by entering

android-gadget-service enable rndis

in Terminal. This will disable MTP (USB file access). You can re-enable MTP by entering

android-gadget-service enable mtp

From what I've read, USB tethering should "Just Work" with Windows and Ubuntu machines.

There is no UI that I know of for controlling USB or WiFi tethering.