Topic: [GLBSE] M.ETF - The first Mining ETF listed on the GLBSE - page 3. (Read 9172 times)
Interested and following
wrote something on the issue of ETFs, please read:
https://bitcointalksearch.org/topic/a-guide-to-glbse-etfs-68365
https://bitcointalksearch.org/topic/a-guide-to-glbse-etfs-68365
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own
...
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
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My profession is highly regulated and prohibits me from issuing and/or professionally trading shares (or the like) outside of the regulations.
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I'd beVERY VERY pleased, willing and able, however, to advise and comment.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own
...
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
...
My profession is highly regulated and prohibits me from issuing and/or professionally trading shares (or the like) outside of the regulations.
...
I'd beVERY VERY pleased, willing and able, however, to advise and comment.
I'd love to witness a "3-ring binder" on how to manage etf on glbse.
following it would be of course just a recommendation but at least all parties would use the same terms with the same meaning and they would report their actions in a standardized and homogenous way.
best practices for etf mgmt would be a really valuable tool.
at least with the possible arrival of smart money to glbse, that it won't play against a rookie fund
or to signal bright enough that by certain standard criteria the market is not etf ready/friendly (bad liquidity, irrational behavior, etc)
my first question is when to publish portfolio? if in real time or delayed and/or to announce also goals & plans for future investment.
and second question what are the basic terms to get familiar with (nav, p.ex.)
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i am a full time ETF trader, so please contact me if you have questions :-D
This is what I like most about bitcoins, we have enough expertise here to start a central bank for some poor african nation.In a sense we (satoshi) already started "the peoples' central bank", no?
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how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own (ie the NAV and the constituents of the ETF should be disclosed once each day at noo CST or whatever).
the NAV should be the middle of the spread.
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
It sure sounds to me like you'd be someone who could run an ETF to high standards... have you considered that?
I am a stockbroker by profession.
My profession is highly regulated and prohibits me from issuing and/or professionally trading shares (or the like) outside of the regulations.
Although GLBSE could be argued to be a hobby rather than a serious exchange, I am not gonna put my lawyer and my company (I am employed by a brokerdealer/marketmaker/specialist) through the process of securing my status for a couple of BTC.
I had to jump through enough hoops and sign a 4 page contract when I started up bitcoincommodities.com and it was made VERY clear that any trading in non-physical entities would be strictly forbidden.
I'd beVERY VERY pleased, willing and able, however, to advise and comment.
Quote
i am a full time ETF trader, so please contact me if you have questions :-D
This is what I like most about bitcoins, we have enough expertise here to start a central bank for some poor african nation. Quote
how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own (ie the NAV and the constituents of the ETF should be disclosed once each day at noo CST or whatever).
the NAV should be the middle of the spread.
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
It sure sounds to me like you'd be someone who could run an ETF to high standards... have you considered that?
Quote
how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own (ie the NAV and the constituents of the ETF should be disclosed once each day at noo CST or whatever).
the NAV should be the middle of the spread.
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
Does the fund limit asset holdings to a fixed maximum of that assets issues (e.g. 33% of any asset)
Does the fund limit holding of all assets to a fixed maximum of the market?
Also how do we/you vote for motions on assets that the fund holds?
marked
will you set up a website to disclose the portfolio details of the ETF?
Quote
how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
Quote
how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
Kind of curious myself.
some quick remarks and questions:
- 5% fee and 5% "profit fee" is really steep. almost prohibitively so.
- an ETF should never "issue more shares", it should "create" shares, issuing endlessly. just make sure you buy stuff with the BTC.
- any managed fund is not really an "ETF", it's just an investmend fund. seeing my point above - if you were able to keep the balance between holdings, you should be able to create an infinite amount of shares as long as there are companies traded on GLBSE.
- how about making two issues - one paying out dividends, the other one retaining / reinvesting the dividends of the constituents?
- how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
- 5% fee and 5% "profit fee" is really steep. almost prohibitively so.
- an ETF should never "issue more shares", it should "create" shares, issuing endlessly. just make sure you buy stuff with the BTC.
- any managed fund is not really an "ETF", it's just an investmend fund. seeing my point above - if you were able to keep the balance between holdings, you should be able to create an infinite amount of shares as long as there are companies traded on GLBSE.
- how about making two issues - one paying out dividends, the other one retaining / reinvesting the dividends of the constituents?
- how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
It's part of our push to stamp out fraud on GLBSE. Asset issuers won't be REQUIRED (i.e. it's not compulsory) but our rating system will mark that asset as very risky. Anyone that invests and loses as a result would have only themselves to blame.
Nefario.
Nefario.
As part of the push for GLBSE 2.0 I have contacted JL421 and asked for various proof of identification.
Hi identity has been verified to me by means of photo ID, proof of address, phone number, and facebook.
JL421 is now GLBSE verified.
Nefario
Hi identity has been verified to me by means of photo ID, proof of address, phone number, and facebook.
JL421 is now GLBSE verified.
Nefario
Not that I had any doubts before
This is good news to hear though.
As part of the push for GLBSE 2.0 I have contacted JL421 and asked for various proof of identification.
Hi identity has been verified to me by means of photo ID, proof of address, phone number, and facebook.
JL421 is now GLBSE verified.
Nefario
Hi identity has been verified to me by means of photo ID, proof of address, phone number, and facebook.
JL421 is now GLBSE verified.
Nefario
may I suggest to pay dividends on mondays (if you're going for weekly). given that most of the underlying companies have their payday on sunday, that might make sense?
Monday or even aim for Tuesdays to account for the occasional late paying divis. And to give this fund time to calculate any earnings.
may I suggest to pay dividends on mondays (if you're going for weekly). given that most of the underlying companies have their payday on sunday, that might make sense?
Any timeline on when you will buy assets?
Already started buying.
rock on. I know we're trying not to 'rock the boat' on the market.
cheers for the quick response, m8
Any timeline on when you will buy assets?
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