The surge in ETH continued this past week, hitting an all time high at $3597 and ending the week at around $3575. Did the ethereum/altcoin stocks followed suit? Well, the ethereum stock/fund/ETF in my portfolio did rather well but other altcoin stocks, not so much. Of my six positions, three were winners and three were losers.
I did not add to any positions but if I did it would go to the Evolve Ether ETF (ETHR), given they are not charging any management fees until May 31. Funny, I've never bought any ETFs until the Bitcoin and Ether ETFs came out this year and I now have all 3 BTC ETFs in Canada plus ETHR.
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 338% and 385%, respectively. Also, bought DeFi Technologies, which is up 18%. So far, so good.
Over the first few months of 2021, I 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). Still a case of doing due diligence.
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):+338.3% (May 7/21) +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):+384.9% (May 7/21) +276.6% (Apr 0/21) +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)
Anything to do with ethereum did well last week.
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):+17.7% (May 7/21) +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)
Ethereum ETFs
Evolve Ether ETF (ETHR):+44.1% (May 7/21) +15.9% (Apr 30/21) -0.3% (Apr 23/21)
Major selling point - no management fee until May 31/21. Up a solid 44% for the week. Expecting more next week.
Other Altcoin Stocks
Graph Blockchain (GBLC): -36.8% (May 7/21) -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)
8 weeks of negative action. but I'm stubborn. I see they have added Tezos as a token to stake.
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):+63.7% (May 7/21) +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.
Here's a video about the top coins to stake in 2021. Looks like Polkadot and Terra made the list.
Conclusion
I believe the surge in ethereum stocks will continue for a couple weeks. I gather that ether options expiration might be an event to be wary of.
I have continued to buy into the one Ether ETF. Unlikely to participate into other Ether ETFs. If I find cash, I will likely buy more ETHR - no management fee until May 31.
