OTC:GBTC is looking like a better long here largely on the basis of a weakening
ETHBTC
Comment:
Legend -
Light blue: ETH/BTC
Dark blue: ETHE/GBTC
Orange: Implied ETH/BTC based on ETHE/GBTC valuations
Green: (1-ETHE DISCOUNT) / (1-GBTC DISCOUNT); ie 1.00 means ETHE and GBTC are both trading at the same discount to NAV
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Light blue: ETH/BTC
Dark blue: ETHE/GBTC
Orange: Implied ETH/BTC based on ETHE/GBTC valuations
Green: (1-ETHE DISCOUNT) / (1-GBTC DISCOUNT); ie 1.00 means ETHE and GBTC are both trading at the same discount to NAV