Winklevoss ETF will list on NASDAQ as "COIN" - page 3.

SunBin

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Quote from: medUSA on July 02, 2014, 03:48:04 AM

I am reading the Registration Statement now. I do not understand the maths behind it. Can anyone help me out?

My understanding (could be wrong) of the COIN ETF: WBT is issuing 1 million shares and each share represents 0.2btc. The price of bitcoin today is around $600 (for easy calculation). So, each share should have a trading value of around $120. But on page 1 of the Registration Statement, it says "proposed maximum offering price per Share" is $20.09??

The share price listed on nasdaq is also $20.09:
http://www.nasdaq.com/markets/ipos/company/winklevoss-bitcoin-trust-909930-72927

Is that $20.09 offering price going to change?
If not, who is going to make money from the $100 price difference?

Thanks!

The price is not set in stone. As soon as it is listed, it will self adjust to match the market price.

medUSA

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I am reading the Registration Statement now. I do not understand the maths behind it. Can anyone help me out?

My understanding (could be wrong) of the COIN ETF: WBT is issuing 1 million shares and each share represents 0.2btc. The price of bitcoin today is around $600 (for easy calculation). So, each share should have a trading value of around $120. But on page 1 of the Registration Statement, it says "proposed maximum offering price per Share" is $20.09??

The share price listed on nasdaq is also $20.09:
http://www.nasdaq.com/markets/ipos/company/winklevoss-bitcoin-trust-909930-72927

Is that $20.09 offering price going to change?
If not, who is going to make money from the $100 price difference?

Thanks!

AdamSmith

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Activity: 142

Merit: 100

Quote from: twiifm on July 02, 2014, 01:04:52 AM

Quote from: transient858 on July 02, 2014, 12:45:53 AM

Quote from: twiifm on July 02, 2014, 12:13:12 AM

Only 1 million shares. Small float = easy manipulation

Pump and dump time

Having access to wall street money, who really know how high bitcoin will go.

Yeah they'll pump it then dump it. Leaving all retail bagholders in tears. Seen it all the time in pennystocks

A wise investor needs to have exit strategy and not trying to time the market to exit at the top.

twiifm

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Quote from: transient858 on July 02, 2014, 12:45:53 AM

Quote from: twiifm on July 02, 2014, 12:13:12 AM

Only 1 million shares. Small float = easy manipulation

Pump and dump time

Having access to wall street money, who really know how high bitcoin will go.

Yeah they'll pump it then dump it. Leaving all retail bagholders in tears. Seen it all the time in pennystocks

transient858

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Activity: 153

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Quote from: twiifm on July 02, 2014, 12:13:12 AM

Only 1 million shares. Small float = easy manipulation

Pump and dump time

Having access to wall street money, who really know how high bitcoin will go.

twiifm

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Only 1 million shares. Small float = easy manipulation

Pump and dump time

BetMoose

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It's a pretty contentious issue, the better question is whether or not they'll manage to get it out before year's end...

___________

Winklevoss Bitcoin ETF will trade on the NASDAQ

Options: Yes | No

twiifm

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Quote from: lay785 on July 01, 2014, 09:32:04 PM

Quote from: twiifm on July 01, 2014, 09:01:49 PM

Quote from: ?? on ??

Buy, Buy, Buy ! 650 is bargain, snip, gift, mullock, garbage... Lips sealed

If there are options on this it'll get shorted big time

check out bitfinex

I have. But w options its a lot easier to build risk limited positions

And I just want to do it from my TDA account

lay785

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Activity: 266

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Quote from: twiifm on July 01, 2014, 09:01:49 PM

Quote from: ?? on ??

Buy, Buy, Buy ! 650 is bargain, snip, gift, mullock, garbage... Lips sealed

If there are options on this it'll get shorted big time

check out bitfinex

twiifm

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Quote from: ?? on ??

Buy, Buy, Buy ! 650 is bargain, snip, gift, mullock, garbage... Lips sealed

If there are options on this it'll get shorted big time

Biodom

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Quote from: zimmah on July 01, 2014, 04:28:25 PM

Quote from: YogoH on July 01, 2014, 04:20:53 PM

Pretty good day for bitcoin

I wonder when the price will start showing all the good news of the past months.

$650 is a joke

yes it is, price should be around $1500 if we follow the long term log graph trend by Stephen Reed (SlipperySlope):
Below is delta from the trend and one can see that we are scraping the bottom:
https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdFIzNDFMeEhVSzhwcEVXZDVzdVpGU2c#gid=7

nobody should sell until we are at least at +0.4

ThomasCrowne

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Quote from: alexeft on July 01, 2014, 04:39:32 PM

Quote from: zimmah on July 01, 2014, 04:28:25 PM

Quote from: YogoH on July 01, 2014, 04:20:53 PM

Pretty good day for bitcoin

I wonder when the price will start showing all the good news of the past months.

$650 is a joke

No my friend!!! It's going to fall!!! Cheesy

Maybe...but like the phoenix she will rise again stronger than ever!!

BitchicksHusband

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Activity: 378

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Quote from: yayayo on July 01, 2014, 05:00:19 PM

So now we know the ticker symbol. But when will it start trading?

I feel like ages have passed since the first announcement of the trust. Is the registration process reaching completion any time soon?
If it requires a lot more time it may be possible that their investment vehicle is no longer of any use, because Bitcoin is already easily accessible for everyone.

ya.ya.yo!

Just one more step closer. As soon as it happens, my self-directed IRAs are going into bitcoin.

Wandererfromthenorth

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Quote from: zimmah on July 01, 2014, 04:28:25 PM

Quote from: YogoH on July 01, 2014, 04:20:53 PM

Pretty good day for bitcoin

I wonder when the price will start showing all the good news of the past months.

$650 is a joke

This

wachtwoord

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Activity: 2324

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Quote from: yayayo on July 01, 2014, 05:00:19 PM

So now we know the ticker symbol. But when will it start trading?

I feel like ages have passed since the first announcement of the trust. Is the registration process reaching completion any time soon?
If it requires a lot more time it may be possible that their investment vehicle is no longer of any use, because Bitcoin is already easily accessible for everyone.

ya.ya.yo!

Well ASAP apparently:

Quote

Approximate date of commencement of proposed sale to the public: As soon as practicable after this registration statement becomes effective.

yayayo

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So now we know the ticker symbol. But when will it start trading?

I feel like ages have passed since the first announcement of the trust. Is the registration process reaching completion any time soon?
If it requires a lot more time it may be possible that their investment vehicle is no longer of any use, because Bitcoin is already easily accessible for everyone.

ya.ya.yo!

TrollinU

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