I just bought my first Ethereum-related stock. Ether Capital (ETHC.ne) trades on the Canadian NEO exchange, which is a new exchange for me. It was a spontaneous move on my part, something which I may regret later but I saw it mentioned on a crypto newsletter that I had sign up for. Since I'm confident of a ETH rally in this cycle to a price near all time highs, I bought it without doing much due diligence.
A recent news release described them as "a Canadian-based technology company focused on giving public markets an access point to own Ether, as well as to businesses providing key pieces of infrastructure for the Ethereum ecosystem. Currently trading on the technology-driven NEO Exchange, the Company’s portfolio includes:
- Ether – the native Ethereum crypto-asset and is the commodity-like fuel used to access the Ethereum network and broadcast transactions
- MakerDao – a decentralized credit platform built on Ethereum in which collateral is leveraged to produce a stable coin
- and Wyre – a cryptocurrency exchange and technology platform.
And here’s the kicker. According to the Company they are “the first publicly-traded vehicle in the world that is dedicated to the Ethereum ecosystem.”"
Funny enough, when I bought in at $1.10. my brokerage account suddenly experienced an outage. Maybe that's a bad omen. (Lucky, it was a temporary outage,)
On the other hand, I don't want to miss the rocket ride when ETH inevitably goes on a bull run. When you see investors start staking ETH, a fair amount of the token will get locked up, thereby limiting supply. Nearly half-million Ether will be taken off the market for the next few months at the very least, if not for a year. Also, ETH is still off 60% from their all time high. There's lots of room to make up.
Since I'm more comfortable trading on the mainstream financial exchanges, I can easily sell the stock when I feel I have hit my targets. In the meantime, I don't intend to trade actual ETH, which I plan to hold for a longer term.
