Ethereum price on January 1st

Alongside Bitcoin, Ethereum is the second-largest cryptocurrency by market capitalisation. For many investors, the value of Ethereum on 1 January is crucial, as this value must be used when filing tax returns. Let's take a look at Ethereum prices on 1 January over the past years, both in euros and dollars.

Taxation on Ethereum

In the Netherlands, owning cryptocurrencies is subject to tax. Depending on how someone acquires their Ethereum (business, income, or investment), corporate tax, income tax, or wealth tax is due. Always check your specific situation or contact Blockrise.

Unlike in some other countries, such as the United States, private investors in the Netherlands are not directly taxed when they sell cryptocurrencies like Ethereum. The tax is calculated on the value of the assets, not on the purchase and sale prices.

In the annual tax return, the value of the cryptocurrency as of 1 January of the previous year is used. So, for the tax return that can be filed from 1 March 2024, an investor must fill in the total value of their cryptocurrencies as of 1 January 2023.

Value of Ethereum on 1 January

The Ethereum price varies by exchange. We have used figures from Coingecko, an independent price platform. They use a formula to determine the price based on averages from various (public) exchanges. The price at 00:00 on 1 January is used for this purpose.

Price Differences Between Exchanges

It is important to note that Ethereum prices on 1 January can vary between different trading platforms. Various exchanges may have slight price differences due to liquidity, trading volume, and other factors.

The tax authorities ask that the value be filled in based on the exchange where the crypto was held during the tax return. Also, consider any differences between the euro and dollar exchange rates.

The information provided in our articles is intended solely for general informational purposes and does not constitute (financial) advice.