3 Crypto Stocks to Avoid Like the Plague

Bitcoin is back in the news.

This week, the world’s largest cryptocurrency went through its halving cycle.

In this process, the payments crypto miners receive for securing the underlying blockchain get cut in half.

A week ago, miners were getting 12.5 BTC for every new block added to the chain. After the halving, the payout is only 6.25 BTC.

It’s as if a gold mine suddenly yielded half the amount of the gilded metal for the same amount of work.

The halving cycle has piqued interest in “digital gold” like we haven’t seen in a few years.

After all, increased scarcity tends to attract investors. The previous halving in 2012 and 2016 precipitated massive rallies in bitcoin.

Last month, Barron’s mentioned the halving in its weekly editorial.

Google searches for “buy bitcoin” are the highest they’ve been in over a year.

And Wall Street research firm Jeffries even went so far as to tell clients to go ahead and buy ahead of the halving.

Since January, bitcoin is up around 40%, outpacing every major asset class.

It’s not just bitcoin, though.

Other crypto assets have climbed as well. The total market cap has risen 37% this year to $261 billion.

There’s clearly an opportunity here. But investing in crypto can be tricky.

Even though popular online brokerages such as E*Trade and Robinhood are now allowing investors to buy a few cryptocurrencies, there are still limitations to putting them in retirement accounts.

Plus, they’ve only listed a few of the 2,000-plus tradable cryptos.
Today, I’m going to go over the three exchange-traded notes (ETNs) that provide exposure to the crypto markets … and why you shouldn’t buy them.

A New Way to Own Cryptocurrencies

For years, bitcoin enthusiasts have tried to list exchange-traded funds (ETFs) on major stock exchanges. So far, the U.S. Securities and Exchange Commission has prevented this.

However, there are exchange-traded notes that track the price of bitcoin, Ethereum and Ethereum Classic.

ETNs are listed on major stock exchanges and trade like stocks.

They differ from ETFs in that ETNs don’t allow investors to own the underlying securities. Instead, investors are paid the return that the underlying index produces.

In the crypto ETN world, there are significant premiums to the underlying cryptocurrency, or net asset value (NAV). That means the underlying value could increase, but your ETN could decrease as the spread narrows.

The largest ETN provider is Grayscale, which offers an assortment of single-asset and diversified ETNs.

Here are its three biggest ETNs, and why you should avoid them.

No. 1 ETN to Avoid: GBTC

Grayscale’s largest product is its Bitcoin Trust (OTC: GBTC), an ETN that tracks the price of bitcoin. Grayscale charges a 2% annual fee and manages over $3 billion in assets.

Each share of GBTC is equivalent to 1/1000 of a bitcoin.

Currently, GBTC is trading at $11.77, while the price of bitcoin on Coinbase is $9,708. That’s about a 20% premium to NAV.

Imagine paying a 20% brokerage fee to own shares of Apple.

Historically, this is cheaper than GBTC’s 39.9% average premium to NAV but is still a significant premium to the underlying asset.

GBTC Is Cheaper Than Average … but It’s Still Expensive

No. 2 ETN to Avoid: ETHE

The second-largest ETN is the Grayscale Ethereum Trust (OTC: ETHE), which tracks Ethereum.

ETHE holds assets of $255 million and charges a 2.5% fee. One share of ETHE is equivalent to 0.094 Ethereum.

Investors in ETHE are paying a significant premium for the underlying Ethereum.

ETHE is priced at $110, equal to an underlying Ethereum price of $1,170. However, Ethereum is only trading at $202.

That’s a 494% premium to NAV. This is significantly higher than the 224% average premium.

ETHE’s Premium Is Way Higher Than Average

Three exchange-traded notes provide exposure to the crypto markets, but you shouldn’t buy them.

No. 3 ETN to Avoid: ETCG

There’s also the Grayscale Ethereum Classic Trust (OTC: ETCG), which tracks the price of Ethereum Classic, an offshoot of Ethereum.

Each share of ETCG is worth 0.912 shares of Ethereum Classic. ETCG holds $65 million in assets and charges a 3% annual fee.

Again, investors in ETCG are paying a significant premium to the underlying Ethereum Classic.

With ETCG priced at $15.88 and Ethereum Classic priced at $6.30 on Coinbase, investors in ETCG are paying 179% over NAV.

That’s higher than the 139% average.

ETCG Investors Are Paying a 179% Premium

Three exchange-traded notes provide exposure to the crypto markets, but you shouldn’t buy them.

There’s a Better Way to Buy Cryptos

If you want exposure to the crypto markets, buy the real thing on Coinbase, E*Trade or Robinhood.

You’ll see how easy it is to transfer your digital money from one platform to another.

It only takes a few steps to copy and paste wallet addresses to move digital assets anywhere in the world.

And you won’t have to pay a fee for the ownership.


Ian King

Editor, Automatic Fortunes

P.S. My Automatic Fortunes service focuses on the hottest tech trends, including self-driving vehicles, 5G and Big Data. Click here to find out more.

Previous Post
Next Post


buying zithromax online

zithromax pfizer https://zithromaxes.com/ citromax antibiotic drug

canada viagra

viagra canada by mail https://canadaviagrastore.com/ canada pharmacies viagra


As I web-site possessor I believe the content matter here is rattling fantastic , appreciate it for your efforts.
You should keep it up forever! Good Luck.

my blog – http://www.atomy123.com/forum.php?mod=viewthread&tid=336890

Nuubu Reviews

Hi there very nice site!! Guy .. Beautiful .. Wonderful ..

I will bookmark your website and take the feeds also?
I’m happy to find numerous useful info here within the publish,
we need work out extra techniques on this regard,
thanks for sharing. . . . . .

Also visit my website – Nuubu Reviews

Tri-Bol Testo Male Enhancement

Thanks for finally writing about > 3 Crypto Stocks to Avoid Like the Plague – Investing Subject < Loved it!

Feel free to surf to my website Tri-Bol Testo Male Enhancement

Keto Premium Shot Pills

I regard something genuinely special in this web site.

Feel free to surf to my homepage :: Keto Premium Shot Pills

Kodo Detox Patches Reviews

It is actually a nice and helpful piece of info. I am happy that you just shared this
useful info with us. Please stay us up to date like
this. Thanks for sharing.

my page … Kodo Detox Patches Reviews


Hello this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML.
I’m starting a blog soon but have no coding know-how so I wanted to get
guidance from someone with experience. Any help would be greatly appreciated!


Wow! Thank you! I constantly needed to write on my site something like that.
Can I take a fragment of your post to my blog?

Also visit my web-site; forum.cidn.pl

Max Rize Pro

Wow, fantastic blog layout! How long have you been blogging for?
you made blogging look easy. The overall look of your website
is fantastic, let alone the content!

Feel free to surf to my web page; Max Rize Pro


free vaibhav laxmi vrat book in gujarati pdf Titanic Truefrench 720p Bluray Gratuitement aiims gk book by sunil nain pdf download

Royal Gclub Casino

Roulette Casino 14 Rouge Pair Baba Slots Casino Toulouse Petit Casino Supermarch

Jackpot Party Casino Slots 777 Mod Apk

Clic Clac De Plage Geant Casino Carte MГЁre Msi Z370 A Pro Slot M.2 Casino Malta By Olympic Casino San Iljan Malte


Thank you, I’ve just been searching for info
approximately this topic for a long time and yours is
the greatest I have came upon till now. But, what about the conclusion? Are you certain concerning the source?

Have a look at my web-site: mapabook.com

Renown CBD Reviews

I conceive other website owners should take this internet
site as an model, very clean and good user pleasant style and design.

Visit my homepage; Renown CBD Reviews

Renown CBD Gummies Reviews

Hello, of course this article is in fact fastidious and I have
learned lot of things from it on the topic
of blogging. thanks.

My website Renown CBD Gummies Reviews

Affiliate Marketing

I just could not go away your website before suggesting that I extremely enjoyed the usual info an individual provide on your guests? Is going to be again regularly to check up on new posts.

Social Media Marketing

I just couldn’t leave your site prior to suggesting that I extremely enjoyed the standard information an individual provide on your visitors? Is going to be again often in order to check out new posts.

Social Media Marketing

I just could not leave your site prior to suggesting that I actually enjoyed the standard information an individual provide on your visitors? Is going to be again incessantly in order to check out new posts.

why web hosting

I’m not sure exactly why but this blog is loading very slow for me.
Is anyone else having this problem or is it a issue on my end?
I’ll check back later and see if the problem still


Normally I don’t learn post on blogs, but I wish to say that this write-up very pressured
me to check out and do it! Your writing taste has been surprised me.
Thank you, quite great post.


I must thank you for the efforts you’ve put in penning this blog.
I really hope to view the same high-grade content
from you later on as well. In truth, your creative
writing abilities has inspired me to get my very own site now 😉

off scoliosis surgery

It’s hard to come by knowledgeable people on this subject, but
you seem like you know what you’re talking about!


Oh my goodness! Incredible article dude! Thank you, However I am having troubles with your RSS.
I don’t know the reason why I cannot subscribe to it.
Is there anybody else getting the same RSS issues?
Anyone that knows the answer will you kindly respond?

our asmr

I think that is one of the such a lot significant information for me.
And i’m happy studying your article. However should remark on few
normal things, The web site taste is wonderful, the articles is in reality excellent : D.

Excellent process, cheers


I truly love your website.. Great colors & theme. Did you
make this website yourself? Please reply back as I’m looking to create my own personal site
and want to know where you got this from or
what the theme is named. Appreciate it!

why scoliosis surgery

I don’t know if it’s just me or if perhaps everybody else
experiencing problems with your site. It appears like
some of the written text on your content are running off the screen. Can someone else please comment and let me know if this is happening to them as
well? This could be a issue with my web browser because I’ve
had this happen before. Thank you


Hello There. I found your weblog the usage of msn. This is a very neatly written article.
I’ll make sure to bookmark it and return to learn more of your useful info.
Thanks for the post. I will definitely return. scoliosis surgery https://0401mm.tumblr.com/ scoliosis surgery


Hey! I just wanted to ask if you ever have any issues with hackers?
My last blog (wordpress) was hacked and I ended up losing several
weeks of hard work due to no back up. Do you have any
solutions to protect against hackers? asmr https://app.gumroad.com/asmr2021/p/best-asmr-online asmr

quest bars that

Hi everyone, it’s my first pay a quick visit at this website,
and piece of writing is actually fruitful in support of me, keep up posting
these content. quest bars http://tinyurl.com/49u8p8w7 quest bars


I’m truly enjoying the design and layout of your site. It’s a
very easy on the eyes which makes it much more enjoyable for me to come here and visit more often. Did you hire out a
designer to create your theme? Superb work! quest bars https://www.iherb.com/search?kw=quest%20bars quest bars


Greetings from Los angeles! I’m bored at work so I decided to browse your blog on my iphone during lunch break.
I love the knowledge you present here and can’t wait to take
a look when I get home. I’m shocked at how fast your blog loaded on my
cell phone .. I’m not even using WIFI, just 3G .. Anyways, fantastic blog!
cheap flights http://1704milesapart.tumblr.com/ cheap flights


Fantastic beat ! I wish to apprentice while you amend your web site, how can i subscribe for a blog web site?

The account helped me a acceptable deal. I had been a little bit acquainted of this
your broadcast offered bright clear concept scoliosis surgery https://coub.com/stories/962966-scoliosis-surgery scoliosis

williams sonoma capitaone com activate

I believe you’re on the right track with your blog. You’ve got a plenty of appealing information that new visitors will definitely appreciate.

www williams sonoma capitaone com activate

You are a very capable person!

getinkpreferred.com invitation number

I like the helpful information program forth in your articles.

Click here

I’ll book mark your blog page and also check once more here each day.


Heya! I’m at work surfing around your blog from my new iphone 4! Just wanted to say I love reading through your blog and look forward to all your posts! Keep up the excellent work!

Skywestonline employee login

you’re really a good webmaster. The website loading speed is amazing. It seems that you are doing any unique trick. Furthermore, The contents are masterwork. you’ve done a wonderful job on this topic!

Bluebird amex activation

We are a group of volunteers and opening a new scheme in our community. Your web site provided us with valuable information to work on. You’ve done an impressive job and our whole community will be grateful to you.


Excellent post. I was checking continuously this blog and I am impressed! Very helpful information specially the last part 🙂 I care for such information a lot. I was seeking this particular info for a very long time. Thank you and good luck.


I visited many web pages however the audio quality for audio songs existing at this
website is really superb. https://parttimejobshiredin30minutes.wildapricot.org/ part time jobs hired in 30 minutes

ps4 games this

Wow that was strange. I just wrote an extremely long
comment but after I clicked submit my comment didn’t appear.
Grrrr… well I’m not writing all that over again. Regardless, just wanted
to say excellent blog!

their ps4 games

This is a topic that’s close to my heart… Thank you! Where
are your contact details though?


Then there s the camp occupying the middle ground, those who don t say it s the best investment but also don t say it s the worst.


Heya just wanted to give you a quick heads up and let you know a few of the pictures aren’t loading properly. I’m not sure why but I think its a linking issue. I’ve tried it in two different browsers and both show the same results.

https://n11.ultipro.com employee login

Your web page is remarkably essential to your viewers. Thanks when it comes to writing, thanks with regard to the numerous area of interests.

Https //n11 ultipro com

Im not that much of a online reader to be honest but your blogs really nice, keep it up! I’ll go ahead and bookmark your site to come back later on. All the best


227334 77423I discovered your blog website on google and verify a few of your early posts. Continue to sustain up the superb operate. I just extra up your RSS feed to my MSN News Reader. Searching for forward to reading extra from you in a while! 36889

getmydisneyvisa com invitaiton number

Today, I went to the beach front with my children. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She placed the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is completely off topic but I had to tell someone!

www.dunkinrunsonyou.com customer survey

Keep functioning ,great job!


Wonderful work! That is the kind of information that are supposed to be shared across
the web. Disgrace on the seek engines for no longer positioning this submit higher!
Come on over and visit my website . Thank you =)


Wow that was unusual. I just wrote an incredibly long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyways, just wanted to say fantastic blog!

Mirtha Zhou

Normally I do not read article on blogs, but I wish to say that this write-up very pressured me to try and do so! Your writing style has been surprised me. Thank you, quite nice post.|


644774 326241Gems form the internet […]very few websites that happen to be detailed below, from our point of view are undoubtedly properly worth checking out[…] 409812

Mytjx.com login

I loved as much as you will receive carried out right here. The sketch is attractive, your authored subject matter stylish. nonetheless, you command get got an impatience over that you wish be delivering the following. unwell unquestionably come further formerly again as exactly the same nearly very often inside case you shield this hike.

Kermit Gorr

With havin so much content and articles do you ever run into any issues of plagorism or copyright infringement? My site has a lot of completely unique content I’ve either written myself or outsourced but it appears a lot of it is popping it up all over the web without my agreement. Do you know any ways to help stop content from being stolen? I’d really appreciate it.|

Skywest employee login

I was curious if you ever considered changing the structure of your site? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having one or two images. Maybe you could space it out better?

Read this

Magnificent goods from you, man. I’ve understand your stuff previous to and you’re just too great. I really like what you’ve acquired here, certainly like what you’re stating and the way in which you say it. You make it entertaining and you still take care of to keep it sensible. I cant wait to read far more from you. This is actually a terrific website.

Bluebird card activation

Hi there, just became alert to your blog through Google, and found that it’s truly informative. I am gonna watch out for brussels. Ill appreciate if you continue this in future. A lot of people will be benefited from your writing. Cheers!

getinkpreferred com

Hey there! Would you mind if I share your blog with my facebook group? There’s a lot of folks that I think would really appreciate your content. Please let me know. Thank you

Harmony Wakeman

Have you ever thought about including a little bit more than just your articles? I mean, what you say is important and everything. However just imagine if you added some great visuals or videos to give your posts more, “pop”! Your content is excellent but with pics and clips, this site could definitely be one of the very best in its niche. Wonderful blog!|

Dario Vasile

Way cool! Some very valid points! I appreciate you writing this post and also the rest of the website is also really good.|


Well I really liked studying it. This article offered by you is very practical for correct planning.

Click here

I loved as much as you’ll receive carried out right here. The sketch is attractive, your authored material stylish. nonetheless, you command get got an edginess over that you wish be delivering the following. unwell unquestionably come more formerly again since exactly the same nearly very often inside case you shield this increase.

Meagan Gruenes

Pretty! This was an incredibly wonderful article. Many thanks for providing this info.|

Erminia Makowski

Great blog here! Also your site loads up very fast! What host are you using? Can I get your affiliate link to your host? I wish my site loaded up as quickly as yours lol|

Derrick Weinberger

Hey very interesting blog!|

when asmr

Very great post. I just stumbled upon your blog and wanted to mention that I’ve
truly enjoyed surfing around your blog posts.
In any case I’ll be subscribing for your feed and I’m hoping
you write again very soon!

Madeleine Myler

Please let me know if you’re looking for a article writer for your weblog. You have some really good posts and I feel I would be a good asset. If you ever want to take some of the load off, I’d love to write some material for your blog in exchange for a link back to mine. Please shoot me an e-mail if interested. Thank you!|

Keturah Tombrello

Great post. I was checking constantly this weblog and I am inspired! Very useful info particularly the remaining phase 🙂 I deal with such info a lot. I used to be seeking this particular info for a long time. Thank you and good luck. |

Arthur Skehan

Pretty nice post. I just stumbled upon your weblog and wanted to say that I’ve truly enjoyed browsing your blog posts. After all I’ll be subscribing to your rss feed and I hope you write again soon!|

Raye Rametta

Hi i am kavin, its my first occasion to commenting anywhere, when i read this paragraph i thought i could also create comment due to this good paragraph.|

Charley Cabada

My family members always say that I am wasting my time here at net, but I know I am getting experience every day by reading thes good content.|

Blossom Gwilt

The other day, while I was at work, my cousin stole my apple ipad and tested to see if it can survive a forty foot drop, just so she can be a youtube sensation. My apple ipad is now broken and she has 83 views. I know this is entirely off topic but I had to share it with someone!|

Blake Campolongo

It’s remarkable designed for me to have a web page, which is useful for my know-how. thanks admin|

Evelia Jonak

This is really interesting, You’re a very skilled blogger. I’ve joined your rss feed and look forward to seeking more of your excellent post. Also, I have shared your web site in my social networks!|

Leroy Nessler

It’s actually a cool and helpful piece of information. I am glad that you just shared this useful information with us. Please keep us informed like this. Thank you for sharing.|

Lesli Keyon

Hi! I’ve been following your web site for a long time now and finally got the courage to go ahead and give you a shout out from Houston Tx! Just wanted to mention keep up the excellent work!|

Susannah Cuneio

Hello, i think that i saw you visited my weblog thus i came to “return the favor”.I’m trying to find things to improve my site!I suppose its ok to use a few of your ideas!!|

Jovita Boran

I love what you guys are up too. This sort of clever work and coverage! Keep up the superb works guys I’ve you guys to blogroll.|

Kaycee Lights

Keep this going please, great job!|

Janelle Lusardi

Aw, this was a really good post. Finding the time and actual effort to generate a very good article… but what can I say… I hesitate a lot and don’t manage to get nearly anything done.|

Gordon Swaney

Excellent site you have got here.. It’s difficult to find excellent writing like yours nowadays. I really appreciate people like you! Take care!!|

Leave a Reply

Your email address will not be published.