Crypto Trader Says ‘Too Long’ on Ethereum, Unstopped from Crash Below $3,400

Crypto trader Duncan has explained why he is “very long” on Ethereum (ETH) despite the crypto token the latest decline is up to $3,400. He insisted Spot Ethereum ETF share pricewhich they believe may result in a significant rally for ETH.

A ‘Higher Priority Multiplication’ Could Be On The Horizon For THEEthereum

Duncan mentioned on X (formerly Twitter) posted that you believe the market very bearish currently and that it could be a “significant price increase” for Ethereum if the Spot Ethereum ETF Income there is “worse.” He also explained why he thinks the Spot Ethereum ETF will be a huge success, contrary to what some might think.

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First, he noted that property managers view the crypto ETF space as a “new frontier” that could generate billions in management capital over the next decade. He stressed whether BlackRock had a successful launch of its product Spot Bitcoin ETFwhich he says is already generating $45 million in annual revenue, six months after launch.

Based on this, Duncan said that the Spot Ethereum ETF provides these asset managers with another “huge opportunity” to introduce a product that can bring them the same success as the Spot Bitcoin ETF, which generates hundreds of millions in fees. Duncan noted that Spot Ethereum ETFs are “almost as large as a Bitcoin ETF given the underlying management fees and the future ability to deduct the fee from earnings.”

Duncan went on to say that in the interview Scott Melker (aka Wolf Of All Streets) became VanEck’s Head of Digital Asset Research, Matthew Sigel, to emphasize how these asset managers feel about Spot Ethereum ETFs. From what was said during the interview, Duncan noted how VanEck is betting on the Spot Ethereum ETF to trigger a “reflexive rally” in ETH, which Sigel said could make them more money.

Spot Ethereum ETF Issuers May Offer ETH Accounts

Duncan tried to counter the argument made by crypto figures like Andrew Kang, who argued that Ethereum lacks accountability and that the Spot Ethereum ETF may fail as a result. Duncan said asset managers like BlackRock and VanEck “can literally start the narrative.”

He added that this story is about BlackRock Real World Assets (RWA) in chain, VanEck’s new stablecoin, or the “open app store” view of asset managers. Dunan said the market could see a “big rally for ETH” when this news is mixed with “good flows and ETH’s very volatile characteristics.”

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The crypto trader admitted that this could take time but pointed out that it is foolish to think that these asset managers will not use significant resources to attract income to their Spot Ethereum ETFs.

Crypto analyst and trader Tyler Durden he had the same feeling there mentioned that Ethereum reaching $10,000 was a “very lopsided” bet for crypto today. He said that Wall Street is making a big effort to ensure that the Spot Ethereum ETF is approved, and now, they will make more money from it while pumping ETH.

The featured image was created with Dall.E, a chart from Tradingview.com