×

Systems, methods, and program products for operating exchange traded products holding digital math-based assets

  • US 9,965,805 B1
  • Filed: 12/19/2017
  • Issued: 05/08/2018
  • Est. Priority Date: 06/28/2013
  • Status: Active Grant
First Claim
Patent Images

1. A trust computer system comprising:

  • (1) one or more processors;

    (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 a method comprising;

    (a) determining, by the trust computer system comprising one or more computers, share price information based at least in part upon a first quantity of digital math-based assets held by a trust at a first point in time and a second quantity of shares in the trust at the first point in time, the trust computer system being operatively connected to a decentralized digital asset network that uses a decentralized electronic ledger in the form of a blockchain maintained by a plurality of physically remote computer systems to track at least one of asset ownership or transactions in a digital math based asset system;

    (b) receiving, at the trust computer system from one or more authorized participant user devices of an authorized participant, the one or more authorized participant user devices being operatively connected to the decentralized digital asset network, an electronic request to redeem a third quantity of shares;

    (c) determining, by the trust computer system, a fourth quantity of digital math-based assets based at least in part upon the share price information and the third quantity of shares;

    (d) obtaining, by the trust computer system, one or more destination digital asset account identifiers that provide access through the decentralized digital asset network to one or more destination digital asset accounts for receipt by the authorized participant of a transfer of the fourth quantity of digital math-based assets from the trust;

    (e) obtaining, by the trust computer system, one or more origin digital asset account identifiers that provide access through the decentralized digital asset network to one or more origin digital asset accounts for the transfer;

    (f) initiating, by the trust computer system, the transfer of the fourth quantity of digital math-based assets from the one or more origin digital asset accounts as accessed through the decentralized digital asset network using the one or more origin digital asset account identifiers to the one or more destination digital asset accounts as accessed through the decentralized digital asset network using the one or more destination digital asset account identifiers;

    (g) broadcasting, by the trust computer system, occurrence of the transfer to the decentralized electronic ledger;

    (h) verifying, by the trust computer system using the decentralized electronic ledger, a receipt of the fourth quantity of digital math-based assets at the one or more destination digital asset accounts; and

    (i) canceling or causing to be canceled, by the trust computer system, the third quantity of shares from the authorized participant.

View all claims
  • 2 Assignments
Timeline View
Assignment View
    ×
    ×