Any Experience with Roth IRA for Mirror/Crypto?

Does anyone have experience with utilizing a Roth IRA (or any IRA) to invest in mirror assets and other cryptocurrencies?

If so do you have any advice or resources?

I am a newbie to crypto, but in the US a Roth IRA is by far the best investment vehicle for tax purposes.

Thanks for any thoughts/suggestions.

Probably not gonna find much expertise on this topic here, from what ive read most crypto ira’s are usually held with a custodian .

Only place where that would be possible would be tastyworks. But you would just be able to buy and hold cryptos on that exchange.

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Yes so you’ll need a self-directed ira generally for crypto investing. Basically an llc. There are a number of providers, I’m not sure if any of them are better than the others. I’d avoid one that’s ‘crypto-specific’ as they are going to pound you with AUM fees. If you were to do this, you’d want one that would facilitate owning a business within your ira (where the business was crypto investing).

As an aside, you absolutely do not want to buy & hold mirror assets for retirement based on current framework. The current lack of dividends on mAssets means your return on mSPY would be like 3.5% long-term instead of 8%. That’s like losing 50% of your profits. There have been some proposals to facilitate some level of compensation for dividends, but as it stands this would be incredibly detrimental to your retirement. Maybe anchor would be okay for an ira.

Thanks for your response. In regards to dividends, the yields / APRs on long and short farming crush any dividend you could receive on stocks or ETFs (hence why I’m interested in this). Obviously the MIR has to be converrted back to fiat but still.

Furthermore, a lot of the mirror assets currently are tech-focused, which pay low to zero dividends. SPY dividend yield is 1.32% not 4.5%.

You are right that the tech assets have a lower dividend profile.

The mirror incentives rates will likely compress over time. There is a new thread speaking to how to achieve sustainability. I’m not sure the specific timeline, but you would probably have to hop to a ‘new’ protocol in a few years to maintain the high yields.

Because the market goes up and down, I’d you remove dividends from SPY the compounding return really is only around 3.5 long term (making 8-1.5=3.5 lol). You can find calculators that show the ex-dividend rate to illustrate my point.

That said, my understanding is Mars protocol is supposed to help address this dividend issue somehow, but I’m not sure how