I Bought Two ETFs Connected To Cryptos, Would You?

OneEyedDiva

SF VIP
Location
New Jersey
It was mentioned in this section that some don't consider crypto currency as real money and others are concerned with accessibility to crypto accounts. I'm one of those who became concerned after reading horror stories about people not being able to access large amounts of money. Coinbase has locked me out of my account and I can't figure out why. Their so called customer service is a joke. It's a good thing my very minute amount of Litecoin is in my son's account. It represents less than 1/10 of 1% of my portfolio.

Anyway, I got a PM from a SF member who told me about investing in GBTC (Grayscale Bitcoin Trust) that person is apparently doing quite well with it. Then another member said he trades GBTC too. I like that I can trade this ETF at Schwab...no tricky stuff trying to access my account and liquidate shares when I choose to. Both members trade frequently, taking advantage of the rises in share price. When I was researching something else, I came across ETHE (Grayscale Ethereum Trust). So I bought a few shares of that. As expected, these ETFs are volatile like cryptos: GBTC 52 week range: $10 - $58.22 ETHE 52 week range: 47 cents - $43.23. One downside is the expense ratios are high...higher than I'd normally pay.

For those who don't want to buy crypto coins, have you ever considered an ETF
 

I asked my investment Rep. if he thought I should go that route and he said that he is still cautious about crypto coin and since we are well diverse as it is, he didn't recommend it. Of course, if I really wanted to, he would have but I too, have been keeping an eye on it and it doesn't seem "real". At this point, we're trying to smooth out our ups & downs and protect what market has given us but I appreciate your mention of the ETHE. I have dabbled before.
 

IMO they are not buy and hold investments that I would want in my portfolio.

To me they are better suited to day traders that are willing to monitor them closely.

Just a case of different interests and different goals.
I agree that they're investments to be monitored closely. I have an app that I check usually a couple of times to day to see if it's a "buy day" which works better with stocks and ETFs that show real time prices rather than mutual funds whose share prices are a mystery until the market closes for the day. Now I'll be checking for "sell days" too. :) I can do so without incurring taxes because they are both in my Roth.

@I think cryptos will become more real as more and more retailers start to accept them. I saw a clip yesterday on Yahoo Finance that said Tesla is going to accept Bitcoin to pay for cars and another major retailer but now I forgot which one. Here's a list of 22 major retailers that accept Bitcoin but it is not all inclusive. I saw that Whole Foods also accepts Bitcoin.
https://www.inverse.com/article/389...Square. ... 10 ExpressVPN. ... More items...
 
It was mentioned in this section that some don't consider crypto currency as real money and others are concerned with accessibility to crypto accounts. I'm one of those who became concerned after reading horror stories about people not being able to access large amounts of money. Coinbase has locked me out of my account and I can't figure out why. Their so called customer service is a joke. It's a good thing my very minute amount of Litecoin is in my son's account. It represents less than 1/10 of 1% of my portfolio.

Anyway, I got a PM from a SF member who told me about investing in GBTC (Grayscale Bitcoin Trust) that person is apparently doing quite well with it. Then another member said he trades GBTC too. I like that I can trade this ETF at Schwab...no tricky stuff trying to access my account and liquidate shares when I choose to. Both members trade frequently, taking advantage of the rises in share price. When I was researching something else, I came across ETHE (Grayscale Ethereum Trust). So I bought a few shares of that. As expected, these ETFs are volatile like cryptos: GBTC 52 week range: $10 - $58.22 ETHE 52 week range: 47 cents - $43.23. One downside is the expense ratios are high...higher than I'd normally pay.

For those who don't want to buy crypto coins, have you ever considered an ETF
We love Schwab and have our ETFs there. Do think "eventually" this type of commerce will become mainstream, but with a lot of regulation oxen to gore...fun to have some "play money" though.
Did you see Robinhood's IPO launch today? Speaking of play money....lol.
 
We love Schwab and have our ETFs there. Do think "eventually" this type of commerce will become mainstream, but with a lot of regulation oxen to gore...fun to have some "play money" though.
Did you see Robinhood's IPO launch today? Speaking of play money....lol.
I love Schwab too. Out of all the brokerages I've used, it's tops for me for several reasons. Most of my portfolio was transferred there not only because it's my favorite brokerage but also to consolidate to make it easier for my son and oldest grandson when the time comes. No I hadn't heard news about Robinhood's IPO but just looked it up. So are you going to buy?
 
It was mentioned in this section that some don't consider crypto currency as real money and others are concerned with accessibility to crypto accounts. I'm one of those who became concerned after reading horror stories about people not being able to access large amounts of money. Coinbase has locked me out of my account and I can't figure out why. Their so called customer service is a joke. It's a good thing my very minute amount of Litecoin is in my son's account. It represents less than 1/10 of 1% of my portfolio.

Anyway, I got a PM from a SF member who told me about investing in GBTC (Grayscale Bitcoin Trust) that person is apparently doing quite well with it. Then another member said he trades GBTC too. I like that I can trade this ETF at Schwab...no tricky stuff trying to access my account and liquidate shares when I choose to. Both members trade frequently, taking advantage of the rises in share price. When I was researching something else, I came across ETHE (Grayscale Ethereum Trust). So I bought a few shares of that. As expected, these ETFs are volatile like cryptos: GBTC 52 week range: $10 - $58.22 ETHE 52 week range: 47 cents - $43.23. One downside is the expense ratios are high...higher than I'd normally pay.

For those who don't want to buy crypto coins, have you ever considered an ETF
GBTC is a good way to have a little skin in the game on the Bitcoin. I bought a little GBTC on June 30. Just 2 % of my holdings.
 
I trade in and out of gbtc …way to high for me right now ..I won’t buy until the 30 dollar range …it can rise and fall 30% in a week
I bought while it was in the $27 range and bought in three lots, not all at once. LIke you, I wouldn't buy any now. ETHE started out more impressive than GBTC for me. I do need more shares of that. But we know how it goes, that could change any minute. MJ when you sell, do you sell all your shares at the same time?
 
Right now, I wouldn't buy in simply because there's really no regulations or protections and the market is riff with hackers who know how to easily take your virtual investment. It happens every day, around the globe. Ad there's no one you can go and complain to.
I'm happy right here with my Vanguard mutual funds.
Of course, there may come a day when all that changes.
 
I love Schwab too. Out of all the brokerages I've used, it's tops for me for several reasons. Most of my portfolio was transferred there not only because it's my favorite brokerage but also to consolidate to make it easier for my son and oldest grandson when the time comes. No I hadn't heard news about Robinhood's IPO but just looked it up. So are you going to buy?
You should read the Robinhood statement...they can do things that aren't normally kosher for listed stocks. For instance the investor shares don't have to be held for 6 months...other issues remind me of a "pump and dump". Too many questions. Like what might management just decide to do and do it. It closed almost 10% below the opening of $38 bucks.
We'll see but its too kinky for my favor anyway.
 
You should read the Robinhood statement...they can do things that aren't normally kosher for listed stocks. For instance the investor shares don't have to be held for 6 months...other issues remind me of a "pump and dump". Too many questions. Like what might management just decide to do and do it. It closed almost 10% below the opening of $38 bucks.
We'll see but its too kinky for my favor anyway.
I have no intention of dealing with Robinhood. Hope I don't regret it (if it does like Facebook which is up nearly 918% since I bought my shares).
 
My advisor has been trading GBTC (Grayscale Bitcoin Trust) and ETHE (Grayscale Ethereum Trust) via Schwab in my account for the past several months and he has done well for me. I will say he has been in and out of them frequently (sometimes daily), so it's not something that is necessarily a buy and hold investment.

I think bitcoin is a very high risk investment, that can provide a high reward. Not something to invest money in that you can't afford to lose.
 
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Right now, I wouldn't buy in simply because there's really no regulations or protections and the market is riff with hackers who know how to easily take your virtual investment. It happens every day, around the globe. Ad there's no one you can go and complain to.
I'm happy right here with my Vanguard mutual funds.
Of course, there may come a day when all that changes.
Jeff my two new investments mentioned in the OP are not virtual currency but ETFs. These ETFs trade like any other ETF, stock or mutual fund.
 
GBTC is up 20.43% from my cost basis and ETHE is up 60.75% since I purchased my shares. They were purchased in May and July respectively. @mathjak107 At what point do you look to sell your shares of GBTC. Do you go by a percentage increase or dollar amount over purchase price? What are those percentages or amounts? Also, do you sell all or hold on to some?

@Liberty They'll probably go back up. I remember Facebook took a dive after it's IPO and this poor man had written in for advice. He was panicking because he had invested all his son's college fund money in FB. I can't remember what the financial advisor's advice was but I'm hoping it was not to sell yet and that he listened.
 
GBTC is up 20.43% from my cost basis and ETHE is up 60.75% since I purchased my shares. They were purchased in May and July respectively. @mathjak107 At what point do you look to sell your shares of GBTC. Do you go by a percentage increase or dollar amount over purchase price? What are those percentages or amounts? Also, do you sell all or hold on to some?

@Liberty They'll probably go back up. I remember Facebook took a dive after it's IPO and this poor man had written in for advice. He was panicking because he had invested all his son's college fund money in FB. I can't remember what the financial advisor's advice was but I'm hoping it was not to sell yet and that he listened.
The difference with Robinhood is the investors don't have to wait 6 months to sell shares...they are dumping 98 Mil worth soon. Seems as though they can change the rules or make it up as they go along.
 
I tried to buy a few years ago and my overly cautious please don't sue me broker said no. As did many other. Can't even buy some high dividend yield RIETs. That same broker now considers any stock under 5$ a penny stock.

I started looking at GTBC below 10 wouldn've bought at 9. I don't how much it will grow but after the first year I'd sell it on an upward spike.
 
I tried to buy a few years ago and my overly cautious please don't sue me broker said no. As did many other. Can't even buy some high dividend yield RIETs. That same broker now considers any stock under 5$ a penny stock.

I started looking at GTBC below 10 wouldn've bought at 9. I don't how much it will grow but after the first year I'd sell it on an upward spike.
Were you trying to by crypto coins back then or the ETFs when your broker got spooked? Do you still have that broker? Too bad you didn't get GBTC at $9. Wish I had known about it back then. It's now $36.01..I got in at the $26 - $27 range. The 52 week high was $58.22, low was $10 so you must've been looking to by more than 52 weeks ago.
 
I tried to buy a few years ago and my overly cautious please don't sue me broker said no. As did many other. Can't even buy some high dividend yield RIETs. That same broker now considers any stock under 5$ a penny stock.

I started looking at GTBC below 10 wouldn've bought at 9. I don't how much it will grow but after the first year I'd sell it on an upward spike.
" Can't even buy some high dividend yield RIETs."

I sugest that you get a new broker.

Owning a small amount of GBTC is a fun way to have a little skin in the BIT COIN game. I have no idea of were the price of GBTC will go but it seens follow the price of of BITCOIN.
 

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