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Trading has been permanently frozen for the site wind down.

BTC-TRADING-PT  operated by BTCTRADINGPT since Dec, 12 2012  

Outstanding Last 24h 24h Avg 24h 24h Vol 7d 7d Avg 7d 30d 30d Avg 30d Tot Vol Mkt Cap Score
440 13@0.033 -- -- -- -- -- -- -- 0.033 0.03415 0.035 1,972 0 1    (1/0)


Asks   (Log in to trade ...)
93 Shares, 3.92899 BTC
Quantity Price
91 0.039000
1 0.049990
1 0.330000


Market Depth

Outstanding Last 24h 24h Avg 24h 24h Vol 7d 7d Avg 7d 30d 30d Avg 30d Tot Vol Mkt Cap Score
440 13@0.033 -- -- -- -- -- -- -- 0.033 0.03415 0.035 1,972 0 1    (1/0)

CALL Options Available For Purchase
(an option to purchase shares)
Option ID Expiration Qty Strike Premium/ea Cost/ea
None available...

PUT Options Available For Purchase
(an option to sell shares)
Option ID Expiration Qty Strike Premium/ea Proceeds/ea
None available...


Trade History
Date Type Quantity Price Total
2013-10-07 14:25:03 Market Sell 13 ฿ 0.033 ฿ 0.429
2013-10-07 05:41:24 Market Sell 5 ฿ 0.034 ฿ 0.17
2013-10-06 12:07:11 Market Sell 1 ฿ 0.033 ฿ 0.033
2013-10-06 10:15:57 Market Sell 2 ฿ 0.033 ฿ 0.066
2013-10-06 02:30:21 Market Sell 1 ฿ 0.033 ฿ 0.033
2013-10-05 02:17:49 Market Sell 14 ฿ 0.035 ฿ 0.49
2013-10-04 00:56:37 Market Sell 10 ฿ 0.035 ฿ 0.35
2013-09-30 18:14:51 Market Sell 1 ฿ 0.03522 ฿ 0.03522
2013-09-30 15:17:50 Market Buy 1 ฿ 0.05 ฿ 0.05
2013-09-29 09:33:35 Market Sell 20 ฿ 0.03512 ฿ 0.7024
2013-09-29 08:04:40 Market Buy 5 ฿ 0.05 ฿ 0.25
2013-09-29 05:04:46 Market Buy 1 ฿ 0.0598 ฿ 0.0598
2013-09-29 04:58:20 Market Buy 9 ฿ 0.056 ฿ 0.504
2013-09-27 05:26:23 Market Sell 3 ฿ 0.037 ฿ 0.111
2013-09-27 05:23:47 Market Sell 5 ฿ 0.037 ฿ 0.185
2013-09-27 03:12:35 Market Sell 20 ฿ 0.037 ฿ 0.74
2013-09-26 21:52:16 Market Sell 18 ฿ 0.037 ฿ 0.666
2013-09-26 17:45:44 Market Sell 62 ฿ 0.037 ฿ 2.294
2013-09-26 17:09:34 Market Sell 23 ฿ 0.037 ฿ 0.851
2013-09-26 16:56:32 Market Sell 5 ฿ 0.037 ฿ 0.185


Dividend History
Date Total BTC Shares BTC/Share Status
2013-08-05 08:26 ฿ 4.91322200 1000 0.00491322 COMPLETE
2013-07-03 07:52 ฿ 2.51453000 1000 0.00251453 COMPLETE
2013-06-04 07:51 ฿ 1.68399000 1000 0.00168399 COMPLETE
2013-05-02 15:40 ฿ 0.30927000 1000 0.00030927 COMPLETE
2013-04-06 04:55 ฿ 0.49740000 1000 0.00049740 COMPLETE
2013-03-12 00:00 ฿ 0.07237900 1200 0.00006031 COMPLETE
2013-02-26 00:00 ฿ 0.05934000 1200 0.00004945 COMPLETE
2013-02-19 00:00 ฿ 0.16642000 1100 0.00015129 COMPLETE
2013-02-05 00:00 ฿ 0.02426000 1100 0.00002205 COMPLETE
2013-01-29 00:00 ฿ 0.11403000 1000 0.00011403 COMPLETE
2013-01-15 00:00 ฿ 0.02938000 1000 0.00002938 COMPLETE
2013-01-08 00:00 ฿ 0.01805000 1000 0.00001805 COMPLETE
2013-01-01 00:00 ฿ 0.10382000 1000 0.00010382 COMPLETE



The importance of your account's public bitcoin address Posted: 7 years ago

Nearly every shareholder of this fund has set their account's public bitcoin address. I want ensure that everyone understands how it may be used.

First, I may ask you to use your account's public bitcoin address to sign a message, for example, to verify that you are the owner of your shares. Please ensure that you can sign a message using that address. This generally requires you to have the private key. Addresses provided by some online wallets and most exchanges cannot be used to sign messages. It also requires your wallet to have the ability to sign a message. I have everyone's email addresses, but the ability to send and receive messages at that address is not sufficient to identify you

Second, any proceeds after the exchange closes will be sent to this address only. Temporary or one-time-use addresses, and addresses not under your control are not suitable. If your address is not suitable, you may not receive any proceeds sent to that address.

If you do not set a public BTC adddress, your shares will be forfeited because it wll not be possible to verify that you are their owner..

 


Termination Update Posted: 7 years ago

Reminder: Due to the shutdown of BTC Trading Corp., the fund is being terminated as of November 1.

Bitcointalk.org is down for a few days, so all information and updates will be posted here and emailed to shareholders until it is back.

Please keep up-to-date on the status of the LTC-GLOBAL and BTC-TC exchanges by reading this thread on the Litecoin forum thread: https://forum.litecoin.net/index.php/topic,551.0.html.

Please remember that the value of your shares is unknown past October 7 because trading will be halted on that date. Here are your current options:

  1. Redeem your shares in multiples of 10 for LTC-GLOBAL shares until October 7. This will allow you to own LTC-GLOBAL shares directly and reduce your counter-party risk. I strongly encourage everyone that can redeem their shares to do it.
  2. Sell your shares until October 7. There is a bid wall at around 2 LTC, which is equivalent to the price that burnside is paying for LTC-GLOBAL shares.
  3. Keep your shares. After November 1, I will be looking into liquidating the assets of this fund. I will seek the highest value at the time. I don't know what that value will be, but it might be 0. Any proceeds from the liquidation will be distributed to the bitcoin addresses of BTC-TRADING-PT shareholders. If you have not set your account's public bitcoin address, please do that immediately. I can't distribute proceeds to you if you don't set your account's public bitcoin address.

An alternative to converting shares to LTC-GLOBAL Posted: 7 years ago

For those of you that can't (or don't want to) convert your BTC-TRADING-PT shares to LTC-GLOBAL shares, I will buy your shares for the BTC equivalent of 2 LTC each. I will convert these to LTC-GLOBAL shares, and then sell the LTC-GLOBAL shares to Burnside (the guy that runs BTC-TC and LTC-GLOBAL) for 20 LTC.

The price is currently 0.037 BTC and will flucuate with the LTC/BTC exchange rate. 

 


BTC-TRADING-PT is closing Posted: 7 years ago

Well, it was fun ...

Due the upcoming closure of the BTC-TC exchange, this fund will also be closing. Trading will remain open until trading is halted on the exchange.

BTC-TRADING-PT holds 130 shares of LTC-GLOBAL and these share constitute 100% of its assets. The closure of the LTC-GLOBAL and BTC-TC exchanges affects the value of the LTC-GLOBAL shares, and thus the value of the fund's shares. The value of the shares of the fund will be difficult to determine until the dust settles, and it is possible that the value will be 0. 

Any distribution to LTC-GLOBAL shareholders will be passed on to shareholders of the fund as soon as possible after it is received. If you have not registered a BTC address with the exchange, you must do that now. Any distributions by the fund after the exchange has closed will be made to these addresses only.

For those that have an account on LTC-GLOBAL and want to own LTC-GLOBAL shares directly, the exchange of the fund's shares for LTC-GLOBAL shares is still open. There will be no fee. 10 shares of BTC-TRADING-PT can be exchanged for 1 share of LTC-GLOBAL.

If you have any questions, feel free to send me an email or a PM.


Motion posted on BTC-TRADING-PT: Vote for approval of ET.DIFF on BTC-TC Posted: 7 years ago
A new motion has been posted on BTC-TRADING-PT at: https://btct.co/security/BTC-TRADING-PT You should probably check it out. Don't waste your vote!

Motion posted on BTC-TRADING-PT: Vote for approval of TAT.NEOBEE on BTC-TC Posted: 7 years ago
A new motion has been posted on BTC-TRADING-PT at: https://btct.co/security/BTC-TRADING-PT You should probably check it out. Don't waste your vote!

Motion posted on BTC-TRADING-PT: Vote for approval of CIPHERMINE.B1 on BTC-TC Posted: 7 years ago
A new motion has been posted on BTC-TRADING-PT at: https://btct.co/security/BTC-TRADING-PT You should probably check it out. Don't waste your vote!

Motion posted on BTC-TRADING-PT: Vote for approval of CIPHERMINE-PT on BTC-TC Posted: 7 years ago
A new motion has been posted on BTC-TRADING-PT at: https://btct.co/security/BTC-TRADING-PT You should probably check it out. Don't waste your vote!

Motion posted on BTC-TRADING-PT: Vote for approval of HOSTED-MINING on LTC-GLOBAL Posted: 7 years ago
A new motion has been posted on BTC-TRADING-PT at: https://btct.co/security/BTC-TRADING-PT You should probably check it out. Don't waste your vote!

Motion posted on BTC-TRADING-PT: Vote for approval of COMINING on LTC-GLOBAL Posted: 7 years ago
A new motion has been posted on BTC-TRADING-PT at: https://btct.co/security/BTC-TRADING-PT You should probably check it out. Don't waste your vote!

BTC-TRADING-PT: Motion YES: 137 - NO: 88 - ABSTAIN: 10 - OUTSTANDING: 1300 (137/1290 = 10.6% Approval)
Title Vote for approval of ET.DIFF on BTC-TC
Voting Dates Begins: 2013-09-13 08:22:00 (BST)    Ends: 2013-09-18 08:22:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of the set of ET.DIFF securities, which trade on BTC-TC?

ET.DIFF.FUTURE, ET.DIFF.LONG, and ET.DIFF.SHORT are a set of related securities. This motion will determine the vote on all three. The securities must be approved before trading can begin.

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 387 - NO: 48 - ABSTAIN: 10 - OUTSTANDING: 1400 (387/1390 = 27.8% Approval)
Title Vote for approval of TAT.NEOBEE on BTC-TC
Voting Dates Begins: 2013-09-11 07:31:00 (BST)    Ends: 2013-09-16 07:31:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of TAT.NEOBEE, which trades on BTC-TC?

TAT.NEOBEE is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 150 - NO: 48 - ABSTAIN: 246 - OUTSTANDING: 1400 (150/1154 = 13.0% Approval)
Title Vote for approval of CIPHERMINE.B1 on BTC-TC
Voting Dates Begins: 2013-09-11 07:30:00 (BST)    Ends: 2013-09-16 07:30:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of CIPHERMINE.B1, which trades on BTC-TC?

CIPHERMINE.B1 is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 293 - NO: 4 - ABSTAIN: 144 - OUTSTANDING: 1400 (293/1256 = 23.3% Approval)
Title Vote for approval of CIPHERMINE-PT on BTC-TC
Voting Dates Begins: 2013-09-11 07:28:00 (BST)    Ends: 2013-09-16 07:28:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of CIPHERMINE-PT, which trades on BTC-TC?

CIPHERMINE-PT is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 181 - NO: 115 - ABSTAIN: 148 - OUTSTANDING: 1400 (181/1252 = 14.5% Approval)
Title Vote for approval of HOSTED-MINING on LTC-GLOBAL
Voting Dates Begins: 2013-09-07 22:31:00 (BST)    Ends: 2013-09-12 22:31:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of HOSTED-MINING, which trades on the Litecoin Global exchange?

HOSTED-MININGis a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 180 - NO: 115 - ABSTAIN: 151 - OUTSTANDING: 1400 (180/1249 = 14.4% Approval)
Title Vote for approval of COMINING on LTC-GLOBAL
Voting Dates Begins: 2013-09-07 22:29:00 (BST)    Ends: 2013-09-12 22:29:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of COMINING, which trades on the Litecoin Global exchange?

COMINING is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 133 - NO: 241 - ABSTAIN: 6 - OUTSTANDING: 1400 (133/1394 = 9.5% Approval)
Title Vote for approval of S.OPENRIGS on LTC-GLOBAL
Voting Dates Begins: 2013-08-31 18:17:00 (BST)    Ends: 2013-09-05 18:17:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of S.OPENRIGS, which trades on the Litecoin Global exchange?

S.OPENRIGS is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 75 - NO: 54 - ABSTAIN: 244 - OUTSTANDING: 1400 (75/1156 = 6.5% Approval)
Title Vote for approval of RENT1SPB on LTC-GLOBAL
Voting Dates Begins: 2013-08-31 18:14:00 (BST)    Ends: 2013-09-05 18:14:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of RENT1SPB, which trades on the Litecoin Global exchange?

RENT1SPB is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 65 - NO: 290 - ABSTAIN: 12 - OUTSTANDING: 1400 (65/1388 = 4.7% Approval)
Title Vote for approval of PETA-MINE on BTC-TC
Voting Dates Begins: 2013-08-28 19:04:00 (BST)    Ends: 2013-09-02 19:04:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of PETA-MINE, which trades on BTC-TC?

PETA-MINE is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 63 - NO: 289 - ABSTAIN: 14 - OUTSTANDING: 1400 (63/1386 = 4.5% Approval)
Title Vote for approval of ICEDRILL.ASIC on BTC-TC
Voting Dates Begins: 2013-08-28 19:03:00 (BST)    Ends: 2013-09-02 19:03:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of ICEDRILL.ASIC, which trades on BTC-TC?

ICEDRILL.ASIC is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 407 - NO: 0 - ABSTAIN: 4 - OUTSTANDING: 1500 (407/1496 = 27.2% Approval)
Title Vote for approval of CB.IDIFF-E on BTC-TC
Voting Dates Begins: 2013-08-23 01:28:00 (BST)    Ends: 2013-08-28 01:28:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of CB.IDIFF-E, which trades on BTC-TC?

CB.IDIFF-E is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 96 - NO: 288 - ABSTAIN: 24 - OUTSTANDING: 1500 (96/1476 = 6.5% Approval)
Title Vote for approval of COG.F3 on BTC-TC
Voting Dates Begins: 2013-08-23 01:27:00 (BST)    Ends: 2013-08-28 01:27:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of COG.F3, which trades on BTC-TC?

COG.F3 is a new security that must be approved before it can be traded..

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own.

Voting closes in 5 days.


BTC-TRADING-PT: Motion YES: 428 - NO: 0 - ABSTAIN: 0 - OUTSTANDING: 1500 (428/1500 = 28.5% Approval)
Title Shall the management fee be based on the 30-day average?
Voting Dates Begins: 2013-08-21 23:45:00 (BST)    Ends: 2013-08-28 23:45:00 (BST)
Motion

For the purposes of computing the the management fee each month, shall the 30-day moving average of the sale price of the fund's assets be used instead of the 7-day moving average in order to determine the value of the fund?

Currently, the management fee paid to John Galt Asset Management each month is based on the value of the assets using the 7-day moving average of the price of LTC-GLOBAL as reported by the Litecoin Global exchange at the end of each month. A moving average is used to reduce the volatility of the value (compared to the last sale price).

This motion, if passed, will change the calculation of the asset value for the purpose of determining the management fee to the 30-day moving average of the price of LTC-GLOBAL as reported by the Litecoin Global exchange at the end of each month. It is felt that the fee will be based more on the value over the entire month than just the last week of the month with this change.

The change will have the following effect on the fee each month: if the value of the assets has risen during the month, the 30-day average will generally be below the 7-day average. If the value of the fund has fallen during the month, the 30-day average will generally be above the 7-day average.

For example,today's 7-day moving average is 355.85 LTC, while the 30-day moving average is 308.39 LTC. The 7-day average is much higher because the price of LTC-GLOBAL has risen sharply in just the last two weeks. If the fee were based on today's value, this change would reduce the fee from 44.48 LTC to 38.55 LTC.


BTC-TRADING-PT: Motion YES: 244 - NO: 9 - ABSTAIN: 20 - OUTSTANDING: 1500 (244/1480 = 16.5% Approval)
Title How should voting on securities be be implemented?
Voting Dates Begins: 2013-08-11 08:04:00 (BST)    Ends: 2013-08-18 08:04:00 (BST)
Motion

One of the intended features of this fund is the ability to vote for or against approval of securities listed on the LTC-GLOBAL and BTC-TC exchanges. Soon after the fund was created, there were enough shareholders to begin voting, and voting continued for a few months, at which point the number of shareholders dropped and there were not enough votes to obtain a significant result.

The number of shareholders has again reached a point where voting may be possible. Before we resume voting, I would like to take a poll that will help determine how voting will be conducted, and which securities will be voted on.

The following choices describe how a person might vote. Please choose the one that predicts most accurately your level of participation:

FOR -- I will research and vote on most securities, new and old. I prefer to vote on both new and old securities. I can research and vote on 4 - 5 securities each week until all the existing securities have been voted on, and then I can handle 2 or 3 per week.

ABSTAIN -- I will research and vote on the new securities that are interesting, or are topics of conversation, or are controversial, but I don't want to (or don't have time to) vote on both old and new securities. I will research and vote on 1 or 2 securities each week, but only if they are new.

AGAINST -- I don't really care a lot about voting or I don't have a lot of time to do research and vote. I might research and vote on a security that I am interested in investing in, but other than that I probably won't participate.

Please choose the one that most accurately predicts your level of participation. It is possible that none will describe you accurately. In that case, please pick the closest. This is not a vote for or against the resumption of voting. Please do not vote for or against the resumption of voting. Assuming that voting will resume, please choose the one that most accurately predicts your behavior.


BTC-TRADING-PT: Motion YES: 27 - NO: 0 - ABSTAIN: 1 - OUTSTANDING: 1000 (27/999 = 2.7% Approval)
Title Vote for approval of BUY-A-HASH on LTC-GLOBAL
Voting Dates Begins: 2013-05-13 16:04:00 (BST)    Ends: 2013-05-18 16:04:00 (BST)
Motion

Shall BTC-TRADING-PT cast a vote for approval of BUY-A-HASH, which trades on LTC-GLOBAL?

BUY-A-HASH is a new issue that must be approved before it can be traded.
 
Issue details: https://www.litecoinglobal.com/security/BUY-A-HASH

If the motion passes by a margin of at least 100 votes, the fund will vote YES.
If the motion fails by a margin of at least 100 votes, the fund will vote NO.
Otherwise, the fund will vote ABSTAIN.

The vote is not considered valid unless there are at least 200 votes, so your vote is important no matter how many shares you own. Voting closes in 5 days.


Contract & Prospectus
Ticker DEPOSITARY RECEIPT: BTC-TRADING-PT
Moderator Score 1  (1/0)
Moderator Votes YES 1 / 0 NO    (1 ABSTAINING -- Users with 10 or more shares of LTC-GLOBAL are allowed to vote.)

Anonymous voted ABSTAIN with comment: Should have a more thorough method of voting on securities.
Shares Outstanding 440 / 10000 Issued
Issuer BTCTRADINGPT <john.galt.asset.management@gmail.com>
Website https://docs.google.com/spreadsheet/ccc?key=0Am3m7aRNI-JbdElvTTc5Vmg3bUh2WDAwc2tsLU1JcEE
Forum https://bitcointalk.org/index.php?topic=131891.0
Issuer Detail

BTC Trading Pass-Through Fund

John Bolton
John Galt Asset Management
Belmont, CA
john.galt.asset.management@gmail.com

John Galt Asset Management currently operates 3 publicly-traded funds:

BTC Trading Pass-Through (BTC-TRADING-PT on BTC-TC exchange)
Bitcoin Gold Trust (GOLD on BTC-TC exchange)
Litecoin Gold Trust (LGT on LTC-GLOBAL exchange)
 

Contract

The BTC Trading Pass-Through Fund is an exchange-traded fund that trades on the BTC Trading Corp exchange. The fund holds shares of BTC Trading Corp (traded as LTC-GLOBAL on the LTC-GLOBAL exchange) and issues its own shares that represents the assets held by the fund. The purpose of the fund is to enable investors to own shares of BTC Trading Corp through transactions denominated in Bitcoins.

Each share of BTC-TRADING-PT represents 1/10th of a share of LTC-GLOBAL. Shares do not represent ownership of the fund or ownership of John Galt Asset Management. Shares of BTC-TRADING-PT are issued only for shares of LTC-GLOBAL actually held by the fund.

The fund receives shares of LTC-GLOBAL in exchange for BTC-TRADING-PT shares and delivers shares of LTC-GLOBAL for redeemed BTC-TRADING-PT shares. The ability to trade shares is the mechanism that maintains the nominal value of the shares at the current value of the LTC-GLOBAL shares that they represent. Regardless of the nominal value, shares can trade at a premium or a discount to that value. The fund is not actively managed and does not engage in activities designed to profit from changes in the price of LTC-GLOBAL shares.

The fund accumulates the dividends paid by LTC-GLOBAL, converts them to BTC, and distributes the proceeds (less fees) to shareholders once per month. The dividend will be paid within 5 business days following the monthly LTC-GLOBAL dividend payment.

The fund redeems shares in lots of 10 for a single share of LTC-GLOBAL. An investor may also deposit shares of  LTC-GLOBAL into the fund in exchange for 10 shares for each LTC-GLOBAL share. A 1% fee is charged for these transactions.  The fee is payable in BTC or LTC.

Shares of LTC-GLOBAL grants the shareholder voting rights. The rights are granted to John Galt, who intends to make a best effort to extend limited rights to shareholders of BTC-TRADING-PT. Details are explained in the forum thread.

John Galt is paid a normal fee of 1% of the value of the assets per year, paid monthly based on the value of the assets at the time of payment. The fee is deducted from the monthly dividend distribution, and any amount that exceeds the total dividends for the month is waived.

John Galt reserves the right to close the fund for any reason with 30 days notice. All assets, including undistributed dividends, will be distributed to shareholders. The process is explained in the forum thread.

Executive Summary

Shares of BTC Trading Corp are traded on the LTC-GLOBAL exchange and are
denominated entirely in LTC. This fund enables investors to effectively own and
trade shares of BTC Trading Corp denominated in BTC, as well as to receive
dividends denominated in BTC.

In order to maintain liquidity, John Galt intends to act as a market maker from
time to time.


Highlights:
* Shares represent 1/10th of a share of LTC-GLOBAL (traded on the LTC-GLOBAL
exchange)
* Shares are traded on the BTC-TC exchange and are denominated in BTC.
* Shares can be redeemed for shares of LTC-GLOBAL, and vice-versa.
* Shares normally trade at the equivalent current price of LTC-GLOBAL but can be
higher or lower.
* The fund strives to maintain liquidity and price parity with LTC-GLOBAL.

The following are the Bitcoin address and PGP public key for John Galt Asset Management. Please use these to encrypt messages and to verify the identity of any person claiming to represent John Galt Asset Management.

19VUfsw6cupi9iieeF9bAEMN2Zcr1iR4yS

-----BEGIN PGP PUBLIC KEY BLOCK-----
Version: GnuPG v2.0.17 (MingW32)

mQENBFFXNaoBCAC/drj1LZQ2c3sbKiwITOQnRX382y1ypFuiiVSprn76zPqwHTVG
wmrMMcMDmjU7E1MSwoyuUnLBqjoJVx/YAh4zfsLgVG8+8m7TNXELpdQx06mGN4i6
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2357CydelV1VOh7sjQ==
=2cIL
-----END PGP PUBLIC KEY BLOCK-----

Business Description

The fund exists to provide the investors the ability to trade shares of BTC Trading Corporation (LTC-GLOBAL on the Litecoin Global exchange) on the BTC-TC exchange using BTC. The fund holds shares of LTC_GLOBAL and passes all income derived from holding the shares to shareholders of the fund (after deducting expenses). The fund does not make a profit from trading. The fund is operated by John Galt Asset Management

Definition of the Market

BTC Trading Corporation operates two exchanges: Litecoin Global (LTC-GLOBAL) and Bitcoin Trading Corp. (BTC-TC). Neither the fund nor John Galt Asset Management are associated with BTC Trading Corporation.

Products and Services

Redeeming shares:

Shares of BTC-TRADING-PT can be redeemed for shares of LTC-GLOBAL. Please
contact John Galt Asset Management at the email address above, or by sending a
PM to John Galt on the LitecoinTalk forums (http://forum.litecoin.net/) or
JohnGalt (no space) on the BitcoinTalk forums.

* Shares are redeemed in multiples of 10. Each 10 shares of BTC-TRADING-PT is
redeemed for one share of LTC-GLOBAL. The minimum number of BTC-TRADING-PT
shares is 100. The person redeeming the shares must have an account on the
LTC-GLOBAL exchange in order to receive the LTC-GLOBAL shares.
* There is a redemption fee of 1% based on the value of the shares redeemed,
payable in BTC or LTC to John Galt Asset Management.
* The LTC-GLOBAL shares are transferred as soon as the BTC-TRADING-PT shares
have been transferred and the fee has been paid.

Depositing shares:

* 10 shares of BTC-TRADING-PT are issued for each share of LTC-GLOBAL that is
deposited. The minimum number of LTC-GLOBAL shares is 10.
* There is a fee of 1% based on the value of the shares deposited, payable in
BTC or LTC to John Galt Asset Management.
* The BTC-TRADING-PT shares are transferred to the depositor as soon as the
LTC-GLOBAL shares have been transferred and the fee has been paid. The
depositor must have an account on the BTC-TC exchange in order to receive the
shares.

Organization and Management

The fund holds shares of BTC Trading Corporation. John Galt Asset Management operates the fund according to the contract above. Ownership of shares in the fund represents proportional ownership of the assets held by the fund. The shares do not represent ownership of the fund or of John Galt Asset Management.

 

Marketing Strategy

John Galt Asset Management publishes information about the state of the fund periodically in the Bitcointalk forums.

Financial Management

Detailed information about the financial state of the fund, including a
description of the assets, the number of shares issued, and the NAV, can be found
in this spreadsheet:

https://docs.google.com/spreadsheet/ccc?key=0Am3m7aRNI-
JbdElvTTc5Vmg3bUh2WDAwc2tsLU1JcEE

The fund's assets can viewed on this page:
https://litecoinglobal.com/portfolio/gbw4


ʡ = Recent Notification or Pending Motion, ʬ = Recent Contract or Prospectus Change