According to Mihir (@RhythmicAnalyst), cryptocurrencies impose a significant accounting and tax management burden, particularly in tracking capital gains and losses for every transaction. This complexity could hinder the U.S.'s ambition to become a leading crypto hub, suggesting a need for capital gains tax reform to facilitate this goal.

According to Farside Investors, $GBTC, which launched in 2013, has a higher proportion of holders with large unrealized capital gains, making them more reluctant to sell compared to $ETHE, which launched in 2017. Additionally, $ETHE holders may be more inclined to stake their assets. The difference in fees between the two assets is also a factor to consider.