Post by
Mat1791 on Feb 18, 2021 12:21pm
Fair Value...
Nice to see the board starting to develop. Hopefully, unlike most boards, we don't end up with all the "crazies"
From what I gather, $10 per unit set on Feb 11, 2021
Bitcoin closed that day at $60,034.51 CAD
Bitcoin rigth now is $65,910.58
Increase of 9.79%
That would put NAV or fair value at about $10.98, approximately IMO.
I am assuming the AP will use the creation funds to balance of the premiums or discounts that occur over the course of the day from trading biases. Not sure when that occurs?
GL
Comment by
Shadow1973 on Feb 18, 2021 12:29pm
Good observation, Mat. I took a 1/2 position to see how the NAV story plays out. The price spiked to almost $11 at open but then went down closer to $10 before settling. It is an unhedged ETF so there is some currency fluctuations that will affect things, but not much.
Comment by
Mat1791 on Feb 18, 2021 12:32pm
Shadow, I used CAD priced bitcoin, but yes, the swings between USD/CAD will either add or subtract from our experience. They will launch a hedged CAD version just BTCC later, but I generally don't think the extra cost of hedging is worth it. At least at the moment. I also jumped in this moring, came over from BTCG.UN.