One year ago people laugh at me for buying worthless IOUs – ETHE

One year ago people laugh at me for buying worthless IOUs – ETHE

I started buying ETHE since October 2022, and really got into it when the discount on NAV is on as much as 50%, I unstaked all my validators and sold all my ETH and bought ETHE, then I made a few post about it here, sharing the exact same opportunity. The response are not surprising, people think I dumb for buying worthless IOUs from Grayscale, and even mock at me when their parent company DCG is at a financial crisis from FTX collapse.

Though in these post I’ve been trying to tell them the reasoning behind, one being the discount are too big of an opportunities to ignore, second I’m tired of the paranoia from self-custody, especially when I realize no matter which hardware wallet I use, ultimately I’m still trusting someone, the chip maker, the firmware maker, etc. And I told them I rather put them into a fund like ETHE that use Coinbase as custodian, at least they are more regulated than those unknown HW wallet manufacturer.

Today it feels like the biggest win for me for patiently waiting and trusting my initial decision and hold onto it for about one year.

Did I start taking profit? Yes I started DCA-out since ETH go past 3K, and still sticking to my DCA plan which I sell X% depends on the price and volatility every month.

submitted by /u/LifeReboot___
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