US 12,450,658 B2
Systems and methods for administering an exchange traded product (ETP) that operates entirely in cryptocurrency/blockchain
Ophelia Snyder, New York, NY (US); and Hany Rashwan, New York, NY (US)
Assigned to Jura Pentium AG, Zug (CH)
Filed by Jura Pentium AG, Zug (CH)
Filed on Mar. 27, 2024, as Appl. No. 18/618,669.
Application 18/618,669 is a continuation of application No. 18/385,111, filed on Oct. 30, 2023, granted, now 11,966,976.
Application 18/385,111 is a continuation of application No. 18/229,424, filed on Aug. 2, 2023, granted, now 11,836,801, issued on Nov. 15, 2023.
Application 18/229,424 is a continuation of application No. 16/832,030, filed on Mar. 27, 2020, granted, now 11,810,190, issued on Nov. 7, 2023.
Claims priority of provisional application 62/824,800, filed on Mar. 27, 2019.
Prior Publication US 2024/0273624 A1, Aug. 15, 2024
Int. Cl. G06Q 40/04 (2012.01); G06F 9/54 (2006.01); G06F 16/25 (2019.01); G06F 16/901 (2019.01); G06F 21/60 (2013.01); G06Q 20/06 (2012.01); G06Q 20/10 (2012.01); G06Q 20/36 (2012.01); G06Q 20/40 (2012.01); G06Q 20/42 (2012.01); G06Q 40/02 (2023.01); G06Q 40/12 (2023.01); H04L 9/00 (2022.01); H04L 9/06 (2006.01); H04L 9/32 (2006.01); H04L 9/40 (2022.01)
CPC G06Q 40/04 (2013.01) [G06F 9/547 (2013.01); G06F 16/254 (2019.01); G06F 21/602 (2013.01); G06Q 20/0655 (2013.01); G06Q 20/108 (2013.01); G06Q 20/3672 (2013.01); G06Q 20/3678 (2013.01); G06Q 20/4014 (2013.01); G06Q 20/42 (2013.01); G06Q 40/02 (2013.01); G06Q 40/12 (2013.12); H04L 9/0637 (2013.01); G06Q 2220/00 (2013.01); H04L 9/50 (2022.05); H04L 2209/56 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A computing system comprising:
one or more processors;
one or more memories including instructions executable by the one or more processors to cause the one or more processors to perform operations including:
receiving a creation order for purchasing a number of units of an exchange traded product (ETP) that contains a cryptocurrency, wherein the creation order was submitted by an authorized participant;
based on receiving the creation order:
receiving a plurality of price quotes from a plurality of cryptocurrency exchanges for purchasing an amount of the cryptocurrency that corresponds to the number of units of the ETP, the plurality of cryptocurrency exchanges being separate from the computing system;
selecting a particular exchange from among the plurality of cryptocurrency exchanges, the particular exchange being selected based on the plurality of price quotes;
based on selecting the particular exchange, transmitting a communication over a computer network to the particular exchange, the particular exchange being configured to respond to the communication at least in part by executing a blockchain transaction that transmits the amount of the cryptocurrency to a blockchain wallet; and
instructing delivery of the number of units of the ETP to the authorized participant;
subsequent to the particular exchange executing the blockchain transaction, executing a blockchain explorer to receive updated portfolio data associated with the ETP;
based on the updated portfolio data, generating a Portfolio Composite File (PCF) that includes a current Net Asset Value (NAV) for the ETP;
encrypting the PCF to generate an encrypted PCF file; and
transmitting the encrypted PCF file via a secure connection to an order taking platform computer (OTP).