ETHA: Is It Ethereum's Turn Yet?
Summary
- On-chain data for Ethereum was mixed in November. DAAs grew on the mainnet but declined in the broader ETH ecosystem due largely to usage declines on Base.
- Solana officially passed Ethereum in full-month fees, but Ethereum remains the giant in the DeFi space, with a 57% share of broader TVL.
- As ETH continues to act inflationary following Dencun, there is an opportunity cost in holding the asset through an ETF that can't actively stake on-chain.
- But as far as simple, inexpensive exposure to price changes in ETH goes, ETHA is a solid option.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of ETH-USD, FETH, BTC-USD, SOL-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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