I’m performing a purely speculative doubling down on this one today. I’ve become more convinced in Strawman’s thesis for this asset class — buy the dominate player (ie Bitcoin) — and, further, in his broader argument about the uniqueness of Bitcoin vs any other cryptocurrency.

I’ve also now realised that this ETF is a very, very imperfect instrument for doing that. But, since I’m in already I might just hold on long enough to get any return on my capital from any significant recovery in the broader crypto space in the next year or too. The only Australian ETF I could find purporting to track BTC directly is not ASX listed. So, my sloppy thesis is that any big move in sentiment in Bitcoin will see a similar momentum in the exchange platform layer that this ETF (CRYP) has some exposure too. Then, if it works or doesn’t, I sell.

My IRL crypto portfolio is mercifully small (because I don’t love this space as ‘investment grade’, most of it has been lost, AND — with last financial year being the first time I showed a real interest — I’m now undergoing the administrative tax return nightmare that is the retail investor’s experience with attempting to comply with the ATO’s treatment of crypto. This last aspect has actually made me grateful for my losses). I initially added this ETF to reflect its place on my Strawman scorecard and I am now also slowly transitioning from various $hitcoins to BTC with a speculative long-term strategy (and I plan on keeping better cost-base records of the same!)