[Index] First tradable cryptocurrency market Index.

[marcos19]

Am I correct to state that the underlying value of all the assets are valued in NXT?

And that the price in BTC is completely dependent of the value of NXT in that period of time?

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[sasha35625]

Not at all! it is totally unrelated to NXT.

[tyz]

Is there a list of addresses where investors can check that there are enough coins hold lying under the ETF?

Okay, three questions: Does it mean that it is like an ETF (exchange traded fund)? If so, are the coins of the index replicated only or do you really own the coins? Last but not least, are the coin weighted equally?

yes, this is ETF for cryptocurrencies, exactly. So the index is backed by real coins, which enter the index equally at the index launch, each one had 5% share. Then their price fluctuates, so a coin can have weigh more or less than average. Also if a coin drops from top 20 it is sold and a new coin is bought.

[bhokor]

Nice project, but i see too much spread between buy and sell price.... it is not good

[sasha35625]

Is there a list of addresses where investors can check that there are enough coins hold lying under the ETF?

Okay, three questions: Does it mean that it is like an ETF (exchange traded fund)? If so, are the coins of the index replicated only or do you really own the coins? Last but not least, are the coin weighted equally?

yes, this is ETF for cryptocurrencies, exactly. So the index is backed by real coins, which enter the index equally at the index launch, each one had 5% share. Then their price fluctuates, so a coin can have weigh more or less than average. Also if a coin drops from top 20 it is sold and a new coin is bought.

Currently no, since the balances are held at exchanges.
There will be soon, though.

[D-Lux]

Can you say something about why each currency is equally weighted? I would personally (fwiw) be much more interested in buying an index that is weighted according to relative market cap.

[WorldCoiner]

Have blogged today about this interesting cryptocurrency market Index (in German):

https://altcoinspekulant.wordpress.com/2015/12/13/coinoindex-der-indexfonds-etf-fuer-altcoins/

Have a good evening!

[bhokor]

nice and interesting project, probably now is a good moment to buy, but Dev, the spread is huge,
best buy order: 0.3632
best sell order: 0.39465

more than 30k satos of spread, i will wait, but will be watching closely

[Woody20285]

Can you say something about why each currency is equally weighted? I would personally (fwiw) be much more interested in buying an index that is weighted according to relative market cap.

I agree purchase by market cap would give better balance to portfolio. Also re- balancing periodically would make sense as well.

[sasha35625]

it will become really interesting when alts are starting to come back.
Actually that might start after the new year

[sasha35625]

coinmarketcap shows a little bit incorrectly the stats for NXT assets, I will try to contact them to have it fixed
The coins are at the Coinoindex.com website
10000000 total supply is just a feature of NXT assets
you issue it all at once

as for the different funds - yes, it's a viable idea
but here the idea was to do some kind of Dow-Jones
that is select top capitalization coins.

I'm sure soon we'll see more of this, mutual funds investing in crypto are on the way

A question about the mechanics of the fund.

Almost certainly this basket of coins will outperform bitcoin. But the real value of the coin must be fully reflected from actual coins held, e.g. coins that could be sold to buy back INDEX.

http://coinmarketcap.com/assets/coinoindex/ says

Available Supply     Total Supply
 338 INDEX      1,000,000 INDEX

Right now INDEX is at 0.85 BTC.

If available supply is 338 INDEX then can a person say that the underlying collection contains 338 x 0.85 = 287.3 btc worth of the mix? Or some reasonable percentage of that? Where are these coins?

Also Where does the 1 000 000 total supply fit in?

And how or what or where is your compensation?

As I understand it the coin comes from a respected person and scam issues are unlikely, but there should be a rough prospectus. Developing a group of funds like this with different goals (high growth fund, stable fund, long term fund etc,whatever) has great potential.

[no ice]

coinmarketcap shows a little bit incorrectly the stats for NXT assets, I will try to contact them to have it fixed
The coins are at the Coinoindex.com website
10000000 total supply is just a feature of NXT assets
you issue it all at once

as for the different funds - yes, it's a viable idea
but here the idea was to do some kind of Dow-Jones
that is select top capitalization coins.

I'm sure soon we'll see more of this, mutual funds investing in crypto are on the way

Here is the basic question though.

The value of all the INDEX that exist is, very roughly, 300 btc?

What is the current value of the underlying coins held in the fund?
From the website "Current Value: 1049.61" so would the underlying coins be worth roughly 1.04961 x 300 btc?
Or 1.04961 x 338 INDEX (the supply)?
Or does 1 INDEX now have an actual value of 1.04961 btc?

In other words is the market cap of INDEX (roughly 300 btc) reflecting approximately the value of coins actually held?

Are 300 btc or so in coins being held to support the value?

The idea will be very popular once crypto becomes more mainstream but most people now in crypto prefer to make their own portfolios. For that reason it seems like right now INDEX might be somewhat undervalued, and once the next surge in crypto happens your fund will be a little overbought, overvalued.

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Several days ago somebody bought a substantial amount of INDEX, buying it up to 9.0 I believe. Could you speculate on a reason for that?

[Limx Dev]

Have blogged today about this interesting cryptocurrency market Index (in German):

https://altcoinspekulant.wordpress.com/2015/12/13/coinoindex-der-indexfonds-etf-fuer-altcoins/

Have a good evening!

Thank you! Nice Blog.

[mmortal03]

In other words is the market cap of INDEX (roughly 300 btc) reflecting approximately the value of coins actually held?

Are 300 btc or so in coins being held to support the value?

The idea will be very popular once crypto becomes more mainstream but most people now in crypto prefer to make their own portfolios. For that reason it seems like right now INDEX might be somewhat undervalued, and once the next surge in crypto happens your fund will be a little overbought, overvalued.

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Several days ago somebody bought a substantial amount of INDEX, buying it up to 9.0 I believe. Could you speculate on a reason for that?

Yep, I'd also like to know.

[paramind22]

I was looking for the website and don't see it as being up.  Does this mean it seems to have gone under? Not a bad idea, diversifying.  That and avoiding putting all your coins in another one's basket seems the sure steady way to profit.

(wow, I wish I could put my sig here after such sagacious wisdom    )

[mmortal03]

sasha35625 is Sasha Ivanov, the founder of Waves. Has anyone asked him what happened to Coinoindex?