Coinbase’s head of research says ETH is mispriced by the market. A potential Ethereum supply announcement is coming as early as Monday at EthCC. BlackRock’s staked ETH ETF may be doing something to supply that the market hasn’t fully considered yet. ETH is trading at $2,000 today, sitting 59% below its August 2025 all-time high.
Most investors have written off altcoins in a brutal bear market. David Duong, Global Head of Institutional Research at Coinbase, thinks that is exactly the wrong read, especially when it comes to Ethereum. Speaking on the Milk Road Show this week, Duong laid out why Ethereum might be the most mispriced asset in crypto right now. On March 17, the SEC and CFTC jointly classified 16 crypto assets as digital commodities, including ETH.
Staking, a core part of Ethereum’s ecosystem, is now explicitly outside securities law. It gives ETH more of a clean regulatory pass, and I think that has already been there but it’s just nice to see it in print. BlackRock launched its iShares Staked Ethereum Trust ETF earlier this month, pulling $254 million in its first week – the fastest-growing crypto ETF launch of 2026. The fund intends to stake between 70% and 95% of its ETH holdings under normal conditions.
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