The Bitcoin Fund [Hedge Fund]

[BldSwtTrs]

https://exante.eu/press/news/397/

First of all, why every body was talking about Bitcoin Investment Trust but nobody was talking about this hedge fund?

Then they say they have $35 million under management. Let's assume a 50$ per BTC average price. Am I mistaken if I make the following calculation : 35 000 000 / 50 = 700 000 BTC
Do they really have ~700k BTC or do I make a error logic somewhere?

[ElectricMucus]

sounds legit. 

www.financemalta.org 

[ElectricMucus]

What if this "fund" is simply a bucket shop and the "security" is simply pegged to the price of BTC?

[BldSwtTrs]

sounds legit.  

www.financemalta.org  

Financemalta.org simply relates the news.

But the broker https://exante.eu/ do look legit and the Bloomberg capture too.

I find this news too : http://www.forbes.com/sites/jonmatonis/2013/03/08/first-bitcoin-hedge-fund-launches-from-malta/

[BldSwtTrs]

Then they say they have $35 million under management. Let's assume a 50$ per BTC average price. Am I mistaken if I make the following calculation : 35 000 000 / 50 = 700 000 BTC
Do they really have ~700k BTC or do I make a error logic somewhere?

You do.
1 BTC =~ $800 today.
35 000 000 / 800 = 43750 TC

They are buying since late 2012 not since last week, so I think 50$ is a fair average price for the BTC they bought.

[BldSwtTrs]

Then they say they have $35 million under management. Let's assume a 50$ per BTC average price. Am I mistaken if I make the following calculation : 35 000 000 / 50 = 700 000 BTC
Do they really have ~700k BTC or do I make a error logic somewhere?

You do.
1 BTC =~ $800 today.
35 000 000 / 800 = 43750 TC

They are buying since late 2012 not since last week, so I think 50$ is a fair average price for the BTC they bought.

The Bitcoin Fund’s assets under management currently total over $35 million.

Which word of this sentence do you currently not understand ?

Do "actif under management" and "net asset value" are the same thing?

The net assue value is caculated like that : number of assets * market price of assets - cost

And my understanding was that actif under mangament is the money people confide to the fund. So if their actif under management is $35m that's mean they have bought BTC with $35m since late 2012.

[ElectricMucus]

The fun part about it, you can provide cryptographic proof of access to a bitcoin wallet.

They can claim what they want of course

[BitchicksHusband]

“the U.S. jurisdiction is tricky.” This is mostly due to the securities registration that the company is currently not prepared to complete and more recently the FATCA reporting implications for foreign financial institutions.

Thanks, feds.  Pretty soon the whole world will have moved on without us.