A surging ETH price highlighted the past week, hitting an all time high over $2800. Did the ethereum/altcoin stocks followed suit? Well, most of the altcoin stocks in my portfolio managed an upward move, all except for one. Of my six positions, five were winners and I had one loser.
I did not pick up any new stocks but I did buy more ETHR and INTL for my trading account. I continued my buying of the Evolve Ether ETF (ETHR), given they are not charging management fees until May 31. Not sure if it is completely free as I assume they'll be taking a charge off the top every month. I don't know, having never bought an ETF until the bitcoin ETFs were introduced a few weeks ago.
Currently I have no plans to buy all the other Ether ETFs.
The portfolio so far - Two stocks purchased in late 2020 - Ether Capital (ETHC) and 3iQ Ether Fund (QETH) have gone up over 242% and 277%, respectively. Also, bought DeFi Technologies, which is up 23%. So far, so good.
Over the first few months of 2021, I have diversified into some altcoin stocks, specifically Graph Blockchain (GBLC), a company that is earning staking rewards for the Polkadot, Cardano and Chainlink tokens and Intellabridge Technologies (INTL), a company working with the Terra blockchain.
Over the next few weeks I'll be looking to participate in publicly-traded companies involved in decentralized finance (DeFi) and non-fungible tokens (NFTs).
Below are the rate of returns of my portfolio based on my brokerage summary at the end of each week.
Ethereum Stocks
Ether Capital (ETHC):+241.8% (Apr 30/21) +230.1% (Apr 23/21) +244.5% (Apr 16/21) +198.5% (Apr 9/21) +169.7% (Apr 1/21) +154.3% (Mar 26/21) +159.8% (Mar 19/21) +180.5% (Mar 12/21) +195.8% (Mar 5/21) +193.1% (Feb 26/21) +225.6% (Feb 19/21) +231.9% (Feb 12/21) +249.0% (Feb 5/21) +170.6% (Jan 29/21) +233.7% (Jan 22/21) +238.2% (Jan 15/21) +277.0% (Jan 8/21) +197.6% (Dec 31/20) +57.8% (Dec 24/20) +68.7% (Dec 18/20) +38.9% (Dec 11/20) +38.0% (Dec 4/20) -17.0% (Nov 27/20)
3iQ The Ether Fund (QETH):+276.6% (Apr 30/21) +230.7% (Apr 3/21) +269.8% (Apr 16/21) +218.5% (Apr 9/21) +207.8% (Apr 1/21) +165.6% (Mar 26/21) +181.7% (Mar 19/21) +167.0% (Mar 12/21) +129.2% (Mar 5/21) +118.7% (Feb 26/21) +190.5% (Feb 19/21) +230.0% (Feb 12/21) +234.9% (Feb 5/21) +139.2% (Jan 29/21) +119.5% (Jan 22/21) +94.2% (Jan 15/21) +117.7% (Jan 8/21) +39.0% (Dec 31/20) +11.6% (Dec 24/20) +10.4% (Dec 18/20) -3.9% (Dec 11/20)
I just heard a fourth Ether ETF was launched. It's from 3iQ, of which I own the closed-end fund above. It has performed well but I wonder if the assets will be transferred over to the ETF like seemingly that's the trend. Wonder if there's an advantage or disadvantage in moving it now or later or does it matter?
DeFi Technologies (DEFI.neo):+23.2% (Apr 30/21) +25.1% (Apr 23/21) +22.3% (Apr 16/21) +60.9% (Apr 9/21) +65.5% (Apr 1/21) +72.9% (Mar 26/21) +74.7% (Mar 19/21) +99.5% (Mar 12/21) +130.8% (Mar 5/21) +137.2% (Feb 26/21) +175.9% (Feb 19/21) +49.0% (Feb 12/21) -9.9% (Feb 5/21)
DEFI appointed Crypto influencer Anthony Pompliano as advisor. https://www.globenewswire.com/news-release/2021/03/02/2185089/0/en/DeFi-Technologies-Appoints-Anthony-Pompliano-as-an-Advisor.html
Ethereum ETFs
Evolve Ether ETF (ETHR): +15.9% (apr 30/21) -0.3% (Apr 23/21)
Major selling point - no management fee until May 31/21. Up a solid 16% for the week. Expecting more next week.
Other Altcoin Stocks
Graph Blockchain (GBLC): -34.3% (Apr 30/21) -15.9% (Apr 23/21) -14.1% (Apr 16/21) -26.7% (Apr 9/21) -34.3% (Apr 1/21) -39.4% (Mar 26/21) -40.0% (Mar 19/21)
7 weeks of negative action.
While still in the red, the reason I'm in GBLC is that I would like to stake some Cardano in a Cardano staking pool. Given that I have only just begun buying into Cardano, perhaps a better bet is to buy into a stock that already does staking in Cardano (and Polkadot and Chainlink to boot, which are top 10-12 coins per CoinGecko.com).
Intellabridge Technologies (INTL):+80.0% (Apr 30/21) +47.3% (Apr 23/21) +73.9% (Apr 16/21) +88.2% (Apr 9/21) +78.0% (Apr 1/21) +2.3% (Mar 26/21) +10.5% (Mar 19/21) +12.5% (Mar 12/21)
INTL has been a pleasant surprise. They are developing a Kash app that is using the Terra blockchain.
I added some more to a second trading position.
Conclusion
I believe there will a surge of altcoin stocks coming and I hope to buy into some more of them in the near future.
I have continued to buy into the one Ether ETF. Unlikely to participate into other Ether ETFs.
