There’s a better trade than buying Grayscale’s GBTC if you’re optimistic the SEC will approve crypto ETFs.
So, with everyone penciling in a bitcoin ETF as a matter of when and not if, bullish investors should just buy GBTC, and wait for a final approval, right? The theory goes that the discount will all but evaporate , and as a bonus the underlying asset might catch a bid – win/win. Perhaps. But the bigger opportunity could be Grayscale’s Ethereum Trust.
My view is if a U.S. spot bitcoin ETF gets approved, there should be little argument for holding up a spot ether ETF. And Grayscale itself has saidETHE and other products to ETFs. I wouldn’t hold your breath when it comes to SOL, ATOM or any other smaller crypto asset, but we have first-hand knowledge that ETH ETFs work. In fact, ethereum ETFs launched within weeks of the first bitcoin ETF.
Futures ETFs have badly underperformed spot markets. Spot ETFs don’t have this problem. They’re a safe, sensible solution for investors and like many, I expect they’ll be approved. Just don’t take your eye off ETH .
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