ETCG Trading Below ETC Cost

A bit of milestone today, ETCG traded below the cost of ETC. For an asset that used to trade at over 2x of ETC’s value, that is a little mind blowing.

Every share of ETCG represents a little under 1 ETC. Specifically, 0.96257972 ETC.

The lowest price ETCG saw today was $10, meanwhile ETC is trading for $10.76. UPDATE: ETCG dropped to $9.50 later in the trading day while ETC rose to $10.80…. wtf?!

Meaning it cost about .$70 cents to $1.20 less to buy into a managed and secure ETC trust today than it did to buy ETC on an exchange.

Even with the trust’s fees considered, that is impressive. It is not every day you get to buy something for less than it is worth. Risks aside, it is a bit like buying $10.70 usd for $9.50 to $10…. of course, for that all to work ETCG needs to trade at least at NAV and ETC needs to not drop in price (which by the way it did later on in the day).

In short, crypto is risky…. but wow. Perhaps this is just a lack of liquidity in the face of an overall stock market sell off. But whatever it is, big discounts on ETCG today.