Decided to look away from my altcoin stocks portfolio for a couple weeks, which made for an uneasy two weeks. I have not purchased any new altcoin stocks but I did add more ETHR (Evolve Ether ETF) to a couple of my trading accounts to take advantage of their May 2021 introductory offer of zero transaction fees.
The stars of the portfolio so far are the two stocks purchased in late 2020 - Ether Capital (ETHC) and 3iQ Ether Fund (QETH), which have gone up over 257% and 281%, respectively; the lesson here being the early bird gets the worms.
Hopefully, sentiment is turning as last week, I received a management information circular from ETHC regarding their upcoming annual general meeting. After reading through it, I gained a little bit more insight into the company and the amount of ether that they are holding on their balance sheet, which proved interesting.
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):+257.2% (Jun 4/21) +222.0% (May 28/21) +222.9% (May 21/21) +360.0% (May 14/21) +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)
Reading the management information circular mentioned earlier, I see that they have some heavy hitters on their board of directors - a couple of them being Som Seif of Purpose Investments and Joey Krug of Pantera Capital.
After further digging, I found that ETHC holds 43,512 ETH. At $0.8249 Canadian/US exchange rate and ETH price on June 4 about $2839 USD, the company's ETH holdings is being valued at $150 M while their market cap for the stock is $135 M, making the stock a little underpriced.
DeFi Technologies (DEFI.neo):+5.8% (Jun 4/21) -0.7% (May 28/21) +9.4% (May 21/21) +11.3% (May 14/21) +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)
I will only add more if the stock turns negative for me.
Ethereum Closed-end fund
3iQ The Ether Fund (QETH):+280.8% (Jun 4/21) +247.4% (May 28/21) +213.2% (May 21/21) +439.8% (May 14/21) +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)
I have decided for now to leave QETH alone and let it grow, although I wonder if 3iQ will transfer this closed-end fund over to their new 3iQ Ether ETF.
Ethereum ETF
Evolve Ether ETF (ETHR):+9.8% (Jun 4/21) +2.5% (May 28/21) -3.8% (May 21/21) +65.4% (May 14/21) +44.1% (May 7/21) +15.9% (Apr 30/21) -0.3% (Apr 23/21)
I have bought more in other accounts.
Other Altcoin Stocks
Graph Blockchain (GBLC):-54.5% (Jun 4/21) -52.0% (May 28/21) -49.5% (May 21/21) -47.0% (May 14/21) -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)
12 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 a small amount of 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 15 coins per CoinGecko.com).
As an aside, I have now built up a position in ADA that I'm ready to participate into a Cardano staking pool myself.
Intellabridge Technologies (INTL):+78.0% (Jun 4/21) +39.1% (May 28/21) +45.3% (May 21/21) +51.4% (May 14/21) +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, which is big in South Korea.
Conclusion
Goal for the week - Hold steady and keep watching ETHC.
