Systems for purchasing shares in an entity holding digital math-based assets
Systems, methods, and program products for providing an exchange traded product holding digital math-based assets are disclosed. Shares based on digital math-based assets may be created using one or more computers by determining share price information based upon quantities of digital math-based assets held by a trust, electronically receiving a request from an authorized participant user device to purchase a quantity of shares, electronically transmitting a quantity of digital math-based assets to one or more destination digital asset accounts for receipt of digital math-based assets from the authorized participant based on the determined share price information and the requested quantity of shares, and electronically issuing shares to the authorized participant.
1. A first networked computer system operating as a node of a network of physically remote computer systems, comprising:
(1) one or more processors; and
(2) non-transitory computer-readable memory operatively connected to the one or more processors, the non-transitory computer-readable memory having stored thereon machine-readable instructions that, when executed by the one or more processors, cause the one or more processors to perform operations comprising:
receiving, by the node of the network of the physically remote computer systems maintaining a decentralized electronic ledger in a form of a blockchain associated with a first digital asset, from a first user device associated with a first user and at a digital asset exchange interface, a first electronic request to deposit a first quantity of the first digital asset in a first digital address of the blockchain;
sending, via multiple application programming interfaces and to external exchange systems, a request for predetermined ratios of the first digital asset to predefined units;
receiving, via the multiple application programming interfaces, responses to the request, the responses indicating the predetermined ratios;
determining, by a trust component of the first networked computer system operating as the node of the network of the physically remote computer systems, unit information including a quantity of units based on a predetermined ratio of the predetermined ratio, wherein determining the quantity of units is performed based on when the first electronic request is received and determining the quantity of units is time-sensitive and is associated with dynamically changing values of the units and the first digital asset;
verifying, by the trust component of the first computer system operating as the node of the network of the physically remote computer systems, receipt of the first quantity of the first digital asset at the first digital address based at least in part on parsing performed on the blockchain;
generating, by the first computer system operating as the node of the network of the physically remote computer systems, instructions to issue the quantity of units to a second digital address associated with the first user device, wherein generating the instructions includes generating computer-readable code that, when received by at least one node of the network of the physically remote computer systems, causes the at least one node of the network of the physically remote computer systems to issue the quantity of units;
sending the instructions to the at least one node of the network of the physically remote computer systems, the sending causing the computer-readable code to automatically execute on the at least one node of the network of the physically remote computer system; and
executing, by the first computer system operating as the node of the network of the physically remote computer systems and via the blockchain, the computer-readable code representing the instructions such that the quantity of units is issued to the second digital address associated with the first user device.
2. The first networked computer system of claim 1 , the operations further comprising:
transmitting, from the first networked computer system to the first user device, the unit information.
3. The first networked computer system of claim 1 , wherein the unit information includes a quantity of fiat.
4. The first networked computer system of claim 3 , the operations further comprising confirming receipt of the quantity of fiat in a fiat account associated with the first networked computer system.
5. The first networked computer system of claim 1 , wherein step (b) further comprises the steps of:
determining, by the first networked computer system, a third quantity of digital assets held at the first digital address that are attributable to users; and
determining, by the first networked computer system, a fourth quantity of digital assets by subtracting from the third quantity a fifth quantity of digital assets associated with expenses.
6. The first networked computer system of claim 1 , wherein the blockchain is an ETHEREUM blockchain.
7. The first networked computer system of claim 6 , wherein the first digital asset comprises ETHER.
8. A method comprising:
receiving, by one node of a network of physically remote computer systems maintaining a decentralized electronic ledger in a form of a blockchain associated with a first digital asset and at a digital asset exchange interface, from a first user device associated with a first user, a first electronic request to deposit a first quantity of the first digital asset in a first digital address of the blockchain;
sending, via multiple application programming interfaces and to external exchange systems, a request for predetermined ratios of the first digital asset to predefined units;
receiving, via the multiple application programming interfaces, responses to the request, the responses indicating the predetermined ratios;
determining, by a trust component of the node of the network of the physically remote computer systems, unit information including a quantity of units based on a predetermined ratio of the predetermined ratios, wherein determining the quantity of units is performed based on when the first electronic request is received and determining the quantity of units is time-sensitive and is associated with dynamically changing values of the units and the first digital asset;
verifying, by the trust component of the node of the network of the physically remote computer systems, receipt of the first quantity of the first digital asset at the first digital address based at least in part on reference to the blockchain;
generating, by the node of the network of the physically remote computer systems, instructions to issue the quantity of units to a second digital address associated with the first user device, wherein generating the instructions includes generating computer-readable code that, when received by at least one node of the network of the physically remote computer systems, causes the at least one node of the network of the physically remote computer systems to issue the quantity of units;
sending the instructions to the at least one node of the network of the physically remote computer systems, the sending causing the computer-readable code to automatically execute on the at least one node of the network of the physically remote computer system; and
executing, by the node of the network of the physically remote computer systems and via the blockchain, the computer-readable code representing the instructions such that the quantity of units is issued to the second digital address associated with the first user device.
9. The method of claim 8 , further comprising transmitting, from the node to the first user device, the unit information.
10. The method of claim 8 , wherein the unit information includes a quantity of fiat.
11. The method of claim 10 , further comprising confirming receipt of the quantity of fiat in a fiat account associated with the node.
12. The method of claim 8 , wherein determining the unit information further comprises:
determining, by the node, a third quantity of digital assets held at the first digital address that are attributable to users; and
determining, by the node, a fourth quantity of digital assets by subtracting from the third quantity a fifth quantity of digital assets associated with expenses.
13. The method of claim 8 , further comprising:
determining, at a time when receipt of the first quantity of the first digital asset occurs, a number of subunits associated with the units; and
associating the number of subunits with the second digital address based at least in part on executing the instructions.
14. The method of claim 8 , further comprising:
determining, at a time when receipt of the first quantity of the first digital asset occurs, a portion of a basket of units attributable to the units; and
associating the portion of the basket of units with the second digital address based at least in part on executing the instructions.
15. A system, comprising:
one or more processors; and
non-transitory computer-ready media storing instructions that, when executed by the one or more processors, cause the one or more processors to perform operations comprising:
receiving, by one node of a network of physically remote computer systems maintaining a decentralized electronic ledger in a form of a blockchain associated with a digital asset, from a user device, an electronic request to deposit a first quantity of the digital asset in a first digital address of the blockchain;
sending, via multiple application programming interfaces and to external exchange systems, a request for predetermined ratios of the digital asset to predefined units;
receiving, via the multiple application programming interfaces, responses to the request, the responses indicating the predetermined ratios;
determining, by the node of the network of the physically remote computer systems, unit information indicating a quantity of units based at least in part on a determined ratio of the digital asset to a unit of the units, wherein determining the quantity of units is performed based on when the electronic request is received and determining the quantity of units is time-sensitive and is associated with dynamically changing values of the units and the digital asset;
verifying, by the node of the network of the physically remote computer systems, receipt of the first quantity of the digital asset at the first digital address based at least in part on reference to the blockchain;
generating, by the node of the network of the physically remote computer systems, instructions to issue the quantity of units to a second digital address associated with the first user device, wherein generating the instructions includes generating computer-readable code that, when received by at least one node of the network of the physically remote computer systems, causes the at least one node of the network of the physically remote computer systems to issue the quantity of units;
sending the instructions to the at least one node of the network of the physically remote computer systems, the sending causing the computer-readable code to automatically execute on the at least one node of the network of the physically remote computer system; and
executing, by the node of the network of the physically remote computer systems and via the blockchain, the computer-readable code representing the instructions such that the quantity of units is issued to the second digital address associated with the user device.
16. The system of claim 15 , the operations further comprising transmitting, from the node to the user device, the unit information.
17. The system of claim 15 , the operations further comprising confirming receipt of a quantity of fiat indicated by the unit information in a fiat account associated with the node.
18. The system of claim 15 , wherein determining the unit information further comprises:
determining, by the node, a third quantity of digital assets held at the first digital address that are attributable to the user; and
determining, by the node, a fourth quantity of digital assets by subtracting from the third quantity a fifth quantity of digital assets associated with expenses.
19. The system of claim 15 , the operations further comprising:
determining, at a time when receipt of the first quantity of the digital asset occurs, a number of subunits associated with the units; and
associating the number of subunits with the second digital address based at least in part on executing the instructions.
20. The system of claim 15 , the operations further comprising:
determining, at a time when receipt of the first quantity of the digital asset occurs, a portion of a basket of units attributable to the units; and
associating the portion of the basket of units with the second digital address based at least in part on executing the instructions.