Ethereum’s Long-Term Potential
Crypto trader Duncan believes Ethereum (ETH) has significant long-term potential, even after its recent decline below $3,400. He cites the upcoming Spot Ethereum ETFs as a potential catalyst for a major rally.
Spot Ethereum ETFs: A Game-Changer
Duncan believes the Spot Ethereum ETFs will be a huge success due to:
- Asset managers viewing them as a lucrative new revenue stream.
- BlackRock’s success with its Spot Bitcoin ETF, which generates $45 million in fees annually.
- The ETFs’ potential to generate similar fees as the Spot Bitcoin ETF.
Asset Managers Driving the Narrative
Duncan argues that asset managers like BlackRock and VanEck can create narratives to support the Spot Ethereum ETFs, such as:
- BlackRock’s Real World Assets (RWA) on-chain.
- VanEck’s new stablecoin.
- The asset managers’ “open app store” thesis.
A Massive ETH Rally on the Horizon
Duncan predicts a “massive ETH rally” when these narratives combine with positive inflows and ETH’s reflexive characteristics. He believes asset managers will invest heavily in promoting their Spot Ethereum ETFs to attract inflows.
Wall Street’s Optimism
Crypto analyst Tyler Durden echoes Duncan’s optimism, stating that Ethereum reaching $10,000 is the “most asymmetric bet” in crypto today. He believes Wall Street’s efforts to approve the Spot Ethereum ETFs will now lead to them profiting from the resulting ETH rally.
