Coinbase just opened trading for it's cbETH token. cbETH is now trading for about 0.92 ETH, so an 8% discount. Of course this discount could go up or down in the short term, but it will be worth more than 1 ETH once withdrawals are available post-merge so it's a great deal.
If the following describes you I think you consider trading your ETH for cbETH right now:
- You accept the risk of centralized custody with Coinbase
- You aren't sitting on significant taxable gains (this would be a taxable event in the US)
- You don't intend to use the ETH you have for anything on-chain (DeFi, buying NFTs, etc)
Good luck!
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