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Cryptocurrency trader duncan Explains why he is “very long” on Ethereum (ETH) despite the cryptocurrency’s price Recent drop to around $3400. He emphasized Ethereum ETFswhich he believes could lead to a significant rise in ETH.
A “Major Bullish Repricing” Could Be on the Horizon for Ethereum
Duncan was mentioned in X (formerly Twitter) mail He believes that the market Very bearish At the moment, there could be a “significant bullish re-pricing” for Ethereum if it Ethereum ETF Flows She is “anything but terrible”. He also explained why he believes Spot Ethereum ETFs will be a huge success, contrary to what some may think.
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First, he pointed out that Asset Managers They see the crypto ETF space as a “new frontier” that could generate billions in management fees for them over the next decade. He highlighted how BlackRock managed to launch its most successful product ever. Spot Bitcoin ETFHe claims his new app is already generating $45 million in fees annually, just six months after its launch.
Accordingly, Duncan noted that Spot Ethereum ETFs provide another “huge opportunity” for asset managers to launch a product that could be as successful as Spot Bitcoin ETFs, generating hundreds of millions in fees. Duncan noted that Spot Ethereum ETFs are “almost as big as Bitcoin ETFs given the underlying management fees and the future ability to deduct fees from staking returns.”
Duncan also referred to the interview Scott Melker (aka Wolf Of All Streets) with VanEck’s Head of Digital Asset Research, Matthew Siegel, to underscore how asset managers feel about Spot Ethereum ETFs. From what was said during the interview, Duncan pointed out how VanEck is betting on Spot Ethereum ETFs to spark a “reversal rally” in ETH, which Sigel claimed could make them more money.
Ethereum ETF issuers can provide a narrative on ETH
Duncan attempted to counter the argument made by crypto figures such as Andrew Kang, who claimed that Ethereum has no narrative and that Ethereum spot ETFs may not succeed because of it. Asset managers like BlackRock and Van Eck can “literally start the narrative themselves,” Duncan stated.
He added that this novel could be about BlackRock Real World Assets (RWA) on the chain, The new VanEck stablecoinOr the “open app store” thesis of asset managers. Donnan said the market could see “a massive uptick in ETH value” when these narratives combine with some “good flows and very reversible properties of ETH.”
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The cryptocurrency trader admitted that this could take some time but saw it as naive to think that these asset managers would not deploy significant resources to attract inflows into their Ethereum spot ETFs.
Crypto Analyst and Trader Tyler Durden Share similar feelings when mentioned He said that Ethereum hitting $10,000 was “the most mixed bet” in the cryptocurrency world today. He claimed that Wall Street put a lot of effort into ensuring the approval of spot Ethereum ETFs, and now, they will make the same amount of money by pumping Ethereum.
Featured image created using Dall.E, chart from Tradingview.com
