Closed a bunch of alts and eth beta for pretty decent gains (still mad from missing my eth bid last night), will just giga long eth now instead
Thought process:
1. ETH is the primary asset of this narrative, people will simply flock into it. Eth betas are subject to dispersion risk if the etf is truly approved tardfi will just allocate to eth as the comfort asset (think BTC etf and BTC just sending more than its betas, BTC ETF fractal etc)
2. Given the above, if one is thinking of longing/holding eth beta longs, why not just long eth instead since it’s the ‘less risky’ asset? Whatever happens to eth rn will happen in order of magnitudes to its betas anyway so just size appropriately