Does anyone know how the COIN ETF shares would enter the market? Is it basically just the Winklevoss twins that start of with all the shares who can then sell however much they want at whatever price and time they want?
Good question, I've been wondering the same thing along the lines of will the ETF offer shares in coins that the Winkies already own (not affecting the market) or will new coins be bought up quickly according to demand (cue market)?
Coindesk says the maximum offering price for each share has been lowered to $10, which suggests they will sell for whatever they can get for their shares, up to a maximum of $10 each.
http://www.coindesk.com/winklevoss-bitcoin-etf-100-million/...the size of the offering has increased, from $65m to $100m, as well as a boost in the number of shares being offered, from 1m shares to 10m shares. The filing goes on to indicate that the maximum offering price per share has been lowered, from $65 down to just $10.