Crypto Trader Duncan explained why he’s been on Ethereum (ETH) for an “extraordinarily long time” despite the crypto token recent drop to around $3,400. He emphasized, Ethereum ETF Spotwhich, in his opinion, may cause a significant raise in the ETH price.

“A significant upward price change” could be on the horizon for THEEthereum

Duncan listed in X (formerly Twitter) fasting that he thinks this is the market too bearish right now and that there could be a “significant upward sell-off” for Ethereum if Spot Ethereum ETF inflows they are “not terrible at all.” He then explained why he thinks Ethereum Spot ETFs will be a huge success, despite what some may think.

First he noticed that asset manager see the crypto ETF space as a “new frontier” that could generate billions of dollars in management fees over the next ten years. He emphasized that BlackRock achieved its most successful product launch in history thanks to Spot Bitcoin ETFwhich it claims is already generating $45 million in fees annually, just six months after launch.

On that basis, Duncan said that Ethereum Spot ETFs provide these asset managers with another “huge opportunity” to launch a product that could provide them with similar success to Bitcoin Spot ETFs, generating hundreds of millions in fees. Duncan noted that Ethereum Spot ETFs are “almost as large as Bitcoin ETFs, taking into account the underlying management fees and the future possibility of cutting the fee from staking profits.”

Duncan also referred to the interview Scott Melker (aka Wolf Of All Streets) spoke with VanEck’s Head of Digital Asset Research, Matthew Sigel, to highlight what asset managers think about Spot Ethereum ETFs. From what was said during the interview, Duncan noted that VanEck is betting that Spot Ethereum ETFs will trigger a “reflexive rally” in ETH, which Sigel believes could make them more money.

Ethereum Spot ETF Issuers May Provide a Narrative for ETH

Duncan tried to refute the arguments put forward by cryptocurrency figures such as Andrew Kangwho argued that Ethereum has no narrative and that a Spot Ethereum ETF might not succeed because of it. Duncan said asset managers like BlackRock and VanEck can “literally start the narratives themselves.”

He added that this narrative may concern, among others: BlackRock’s Real World Assets (RWA). on a chain, Fresh stablecoin from VanEckor the “open app store” thesis from asset managers. Dunan said the market could witness a “massive ETH rally” if these narratives are mixed with “good flows and extremely reflexive ETH characteristics.”

The cryptocurrency trader admitted that it could take some time, but opined that it is naive to think that these asset managers will not devote significant resources to attracting inflows into their Spot Ethereum ETFs.

Cryptocurrency Analyst and Trader TylerDurden shared similar feelings when mentioned that Ethereum hitting $10,000 was the “most asymmetric bet” in crypto today. He claimed that Wall Street had put so much effort into securing the approval of Spot Ethereum ETFs, and now he would make just as much money pumping ETH.

Featured image created with Dall.E, chart from Tradingview.com