What do you guys think of ASX: CRYP? It weighs about 15% of my portfolio currently along with VGS. Thinking long term, should I keep pumping money into it or focus on other ETFs? Cheers.
Alot of these companies are a proxy for the bitcoin price, though often with a premium (eg MSTR). The miners (RIOT and MARA) have other risks, though they're very cheap currently. Personally I prefer to buy direct crypto, but sometimes buy these if I want exposure without the 7 day delay of moving funds from my share account->AU bank account->crypto broker. Also GBTC is at a fairly large discount so buying that is sometimes a good quick way in after a dip. GBTC has a high fee, but it still gets the directional movement of bitcoin when it goes up. Coinbase I think is a good business, as long as users keep growing fast enough to replace the users that figure out how expensive their fees are I don't know much about the other businesses in their portfolio. Personally I was never comfortable putting much money into crypto until I became an active user, only through using the applications, trading on chain, and hanging out inside their discords and seeing how the Devs did things was I able to figure out which projects had good potential and judge the momentum of the market. These are companies that have exposure, and some value add to it. I think it will keep growing well long term. In the short term (2022) there may be some macro factors that keep risky assets in a tough/volatile spot so I'd only hold these if I was prepared to take big losses in the short term (for potential big gains) and size the % accordingly.
