Bitcoin quasi ETF on pinksheets / OTCQX

Discussion in 'Crypto Assets' started by m22au, Mar 2, 2015.

  1. m22au

    m22au

    "First Publicly Traded Bitcoin Fund Would Take ‘Backdoor Route’ to Launch"
    http://blogs.barrons.com/focusonfun...oin-fund-would-take-backdoor-route-to-launch/

    "BIT Poised to Become Publicly Traded Bitcoin Fund"
    www.wsj.com/articles/bitcoin-investment-trust-gets-finras-ok-to-become-public-bitcoin-fund-1425242094

    "Barry Silbert’s Bitcoin Investment Trust is poised to become the first publicly traded bitcoin fund, with approval and assignment of a ticker symbol by the financial industry’s main self-regulatory body paving the way for trading on an electronic platform operated by OTC Markets Group."

    WSJ article archived at
    https://archive.today/Nk80r

    Temporary symbol: BTCV

    Symbol they want: GBTC
    http://www.otcmarkets.com/stock/GBTC/profile

    Quote from Fidelity
    https://eresearch.fidelity.com/eresearch/evaluate/snapshot.jhtml?symbols=GBTC

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    Last edited: Mar 2, 2015
  2. m22au

    m22au

    Quotes
    http://quotes.wsj.com/GBTC
    https://eresearch.fidelity.com/eresearch/evaluate/snapshot.jhtml?symbols=GBTC
    http://www.otcmarkets.com/stock/GBTC/profile

    Homepage for the trust:
    http://www.bitcointrust.co/

    Shares outstanding
    http://bitcointrust.wpengine.netdna-cdn.com/wp-content/uploads/2014/12/Fact-Sheet_Dec.pdf
    1,374,800

    each share is 10% of a Bitcoin

    so equivalent to 137,480 Bitcoin

    Net asset value at $273.90
    https://ca.finance.yahoo.com/q/bc?s=BTCUSD=X&t=5d&l=on&z=l&q=l&c=

    $273.90 * 137,480 Bitcoin

    Net asset value $37.655 million

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  3. m22au

    m22au

    In addition to GBTC, there is BTCS (Bitcoin Shop):
    http://finance.yahoo.com/quotes/BTCS

    Yahoo Finance says the market cap is $40 million

    30 Sept 2014 book value
    $846,845 (ie, under $1 million)

    Shares outstanding 153,186,804

    9 months revenue $17,806

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  4. m22au

    m22au

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  5. m22au

    m22au