I've been working on the Terramatris crypto hedge fund, growing the portfolio from scratch by selling put options on Ethereum.
Every week we choose one crypto coin and invest all premium in it. In the last weeks, we have already invested in XLM, ETH, USDC, and BTC. I have decided to stick with these 4 tickers until we grow the portfolio to at least 0.1 ETH or 0.01 BTC, thus enabling covered call writing on these positions.
On week 6th, we are returning to ETH coin - every time we are going to take options premiums this week (September 25 - October 1 ), we will re-invest the premium back in ETH coin for our long-term crypto portfolio.
Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software. Ethereum was conceived in 2013 by programmer Vitalik Buterin.
As of September 25, 2023, we are holding 0.0134 ETH coins worth $21.12. In total ETH takes about 34.78% of our total crypto portfolio. We need at least 0.1 ETH to start selling covered calls on Ethereum, which would already give some boost to the portfolio.
