Here's a scorecard on eight ways to own crypto. The most intriguing: a low-cost coin trust available at a nice discount
Here’s a scorecard on eight ways to own crypto. The most intriguing: a low-cost coin trust available at a nice discount.
The trusts trade at discounts to the value of the bitcoins they hold: recently 26% at Osprey, 28% at Grayscale. With either, you are making a bet both on crypto and on that discount. If the discount widens, you’re worse off than you would have been with a coin purchase. If it narrows, you have a windfall.
The ETF structure allows market makers to cash in unwanted fund shares via a swap for underlying assets. That sets up an arbitrage that keeps an ETF’s price close to the fund’s net asset value. Self-storage entails a fairly elaborate procedure to protect your private key from being lost or stolen. Next week you might walk into an open elevator shaft, so you need some mechanism for survivors to retrieve that key. The computer you use to generate the private and public keys for your coin repository has to be permanently isolated from the internet. The medium on which the secret is stored must be secure; Odean mentions an etched piece of metal as an option.
Pro: The fund trades at very close to net asset value. The shares that are quoted in U.S. dollars see $4 million of average daily volume.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UST Stablecoin Veers Wildly From Dollar Peg. Here's the LatestBy tapping into its bitcoin reserves, UST’s salvation may have exacerbated a bitcoin sell-off that brought BTC to its lowest price since July 2021.
Read more »
Crypto market tumult continues as bitcoin slips below $30,000Bitcoin's price traded below $30,000 late Monday amid continued turbulence in the crypto market.
Read more »
Bitcoin Dips Below $30,000, Drops More Than 56% From Its All-Time HighBitcoin dropped below the $30,000 price level late Monday.
Read more »
First 6-week losing streak since 2014 — 5 things to know in Bitcoin this weekBTC price cues continue the bearish narrative as Bitcoin braces for CPI data.
Read more »
Bitcoin sets news 2022 lows as analyst says trip to $24K realized price 'entirely possible'Bitcoin falls to fresh 2022 lows as BTC price performance looks to challenge $30,000.
Read more »
El Salvador Buys 500 Bitcoins Amid Crypto Bloodbath – Featured Bitcoin NewsEl Salvador has bought the bitcoin dip. Amid a heavy crypto market sell-off, the Salvadoran president announced that his country has purchased 500 more bitcoins.
Read more »