- i won't post much on btc/ related vehicles for reasons i may get into over time
- that said, i don't mind publishing this rule of thumb chart i've been using to trade the diversified funds (gdlc - grayscale and bitw - bitwise)
- both of these are about 65-70% btc, 20+% eth and 10+% other chitcoins
- if/when eth etf, these probably still trade at a discount to NAV but the discount (about 30% of the writing 7/1/24) probably goes to 15-20%. so there's some alpha capture there
- obviously is spot drops 30%, these probably trade wide again 35%? idk.
THE POINT
of me publishing this is this green line
- if you want to stomach all the short term issues that come with trading closed end funds with high fees bc you're a LT holder of BTC, you can get the only discount on "physical" bitcoin in the market today w these
- if you're a maxi (recommended btw), just write all the other stuff at zero and you're still at about a 15% discount on spot BTC - better than the ETF
ABOVE THAT GREEN LINE
- bitw is the better buy
- bitwiseinvestments.com/crypto-funds/bitw
BELOW THAT GREEN LINE
- gdlc is the better buy
- grayscale.com/crypto-products/grayscale-digital-large-cap-fund
...
i rotate between the two based on how far away from the green line they are. as of today, i've been selling gdlc for bitw. gdlc ironically has better liquidity than bitw despite being half the size. these tend to oscillate quite a bit. nonetheless.
hope it helps and cheers
V
- that said, i don't mind publishing this rule of thumb chart i've been using to trade the diversified funds (gdlc - grayscale and bitw - bitwise)
- both of these are about 65-70% btc, 20+% eth and 10+% other chitcoins
- if/when eth etf, these probably still trade at a discount to NAV but the discount (about 30% of the writing 7/1/24) probably goes to 15-20%. so there's some alpha capture there
- obviously is spot drops 30%, these probably trade wide again 35%? idk.
THE POINT
of me publishing this is this green line
- if you want to stomach all the short term issues that come with trading closed end funds with high fees bc you're a LT holder of BTC, you can get the only discount on "physical" bitcoin in the market today w these
- if you're a maxi (recommended btw), just write all the other stuff at zero and you're still at about a 15% discount on spot BTC - better than the ETF
ABOVE THAT GREEN LINE
- bitw is the better buy
- bitwiseinvestments.com/crypto-funds/bitw
BELOW THAT GREEN LINE
- gdlc is the better buy
- grayscale.com/crypto-products/grayscale-digital-large-cap-fund
...
i rotate between the two based on how far away from the green line they are. as of today, i've been selling gdlc for bitw. gdlc ironically has better liquidity than bitw despite being half the size. these tend to oscillate quite a bit. nonetheless.
hope it helps and cheers
V
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.