For every 5 shares of the COIN ETF the winklevoss brothers will hold 1 bitcoin. If there is demand over the amount of coins they already have, the will then buy 1 bitcoin from the market for every new 5 share purchases so if it takes off it can create some serious demand for bitcoins.
Thx for the extremely simple explanation, I had no idea that's how it was going to work. I feel like I've learned something today...that's it, time to go home, even though I just got to work.
How are there people out of highshool who don't understand what an etf is?
That's a good question...but who says I'm out of high school? OK, I'm outta high school...but traditional investments have never been my thing...or anything with numbers really.