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We may see a pull back in a few crypto currencies soon. ETHE the grayscale Ethereum trust has skyrocketed lately and has about 285 Million shares outstanding.
by chollida1 6y ago
We may see a pull back in a few crypto currencies soon.
ETHE the grayscale Ethereum trust has skyrocketed lately and has about 285 Million shares outstanding.
On January4th an additional 1.05 Billion shares come free trading as their 6 month lockup expires.
Oh and its currently trading at a 200+% to its net asset value.
Its conceivable Ethereum itself could double and ETHE could still drop 50%.
Fun times!!
- gruez 6y agoYour first sentence claims that there's going to be "a pull back in a few crypto currencies", but then the rest of your comment seems to be talking about ETHE, which looks like some sort of ETF for holding ethereum?
- chollida1 6y agoWell I was assuming that Ripple would fall on the news that the SEC is suing the company who runs it. That makes two which is, checks definition in dictionary, a few:) I'm not exactly sure what you want me to respond to:)
- gruez 6y agoBut in the case of ETHE, it's the ETF dropping, not the cryptocurrency (ETH) itself. The same logic would apply to the reverse situation. If tether (USD stablecoin) crashes, you wouldn't say the USD was crashing.
- qes 6y agoETHE is backed by ETH. If ETHE gets sold, ETH gets sold - ~0.01 ETH per ETHE.
- zionic 6y agoReddit bag holders are dumping their XRP into BTC/ETH/Tether atm. Interesting to see what the #3 in market cap bleeding into #1 and #2 do.
- texaspro 6y agoThis was 100% spot on, btw.
- texaspro 6y agoAny way to know what the cost basis per share was for those initial investors? I assume we'll see more price drop, unless their basis is higher than the current price (doubtful).