There are currently 100 shares. One share is worth one diamond, weighing 1pt. valued at $3 when issued. When the shares were issued, the ask for one share was one BTC, worth approximately the same as one of the diamonds represented in the holding.
The diamonds in the holding are still worth $3. BTC is worth more than $3 right now so if anyone else is selling shares, they are asking for a little less than 1 BTC since the dollar to BTC conversion works that way. The diamonds still weigh 1pt and there are still 100 of them in the holding.
This fund has fallen nearly 10% and the current highest bid is a 90% drop. Are you going to provide any price support for this fund? Wouldn't repurchasing shares at a lower cost be a way to meet your goal of adding additional assets per share?
It fell 10% in BTC while the value of BTC went up. Since this is an experiment in tying the value of the shares/BTC to the value of diamonds, this looks to be correct, even though the volumes are not worth mention.
For price support, the market seems to be working fine based on the initial stated objectives of tying shares/BTC to 1pt diamonds.
I have pulled my initial 1BTC ask and may list a lower offering. I may also list a higher one if the BTC/dollar conversion drops again. I may add another carat and add another 100 shares. I may be successful in turning over enough carats to switch the holdings to 2pt diamonds or better making the shares worth significantly more. There are many variables in play and that is the excitement and fun of this experiment.
Growth of the fund can also come from profitable turnover of the holding and the value of shares adjusted accordingly. I am actively pursuing this route to grow the value of the shares and the overall holdings which is to my benefit and that of shareholders. This is all a learning process and will happen over time, it is not for everyone, but clearly a winner in a lot of ways. Also, the likelihood of the holdings depreciating in dollar value is almost non-existant.
I will eventually post more details at my site on the specific status of shares, holdings, valuations, etc.
The market will also drive the price I would hope
What's the clarity of the diamonds ? Colour ?
Clarity is VS to SI 1. I am waiting to hear back on the exact colour range for the lot. Obviously VS stones are more valuable than SI and colour is a factor too. The wholesale value price quoted is an average based on the high to low of the lot. One carat of the best quality diamonds in the lot would cost more than $300, where the same weight of the lower quality ones would cost less. More details will be coming on the website soon.