There's this crypto investor Andrew Kang who's been on my radar lately, and honestly his ETH call from mid-2024 is worth revisiting now that we're in April 2026.

So basically, while everyone was losing their minds over the Ethereum spot ETF approval, Kang was one of the few actually questioning whether institutions would actually care. His take was pretty straightforward - he didn't think ETH would attract anywhere near the capital that Bitcoin did. He projected the ETF would pull in maybe $0.5B to $1.5B over six months, and he warned ETH could drop to around $2,400.

When the ETF launched, the market was euphoric. But Kang's reasoning made sense if you think about it from an institutional perspective. TradFi money doesn't really care about staking yields or DeFi mechanics. They want simplicity and liquidity - which Bitcoin offers and Ethereum frankly doesn't. He argued that institutions would see ETH as the more complicated, harder-to-value asset.

What actually happened? Pretty much exactly what he called. The ETH ETF saw massive volume in the first few weeks, then it dried up. We're now over a year out and flows have stayed relatively muted. His $2,400 target got tested pretty quickly after launch too.

What's interesting about Andrew Kang's approach is he wasn't bearish on Ethereum long-term. He just separated his short-term tactical view from his longer conviction. He still sees potential for ETH as a settlement layer or as infrastructure for Web3, but he was realistic that we'd need to wait for actual use case development and deeper institutional adoption.

On the investment side, through Mechanism Capital, he's backed projects like Arbitrum and 1inch, plus some early-stage stuff. He also made a bet on the MAGA memecoin - his logic being that attention is the real commodity in crypto markets.

The broader lesson here isn't about worshipping any single trader's calls. It's that Andrew Kang was willing to go against market sentiment with a specific thesis, and that thesis held up. He separated hype from fundamentals. Whether you agree with his takes or not, that's the kind of thinking worth paying attention to in crypto - especially when the market gets euphoric about something.