ICO investors

We conduct a detailed analysis of investors in successful initial coin offerings (ICOs). The average ICO has 4700 contributors. The median participant contributes small amounts and many investors sell their tokens before the underlying product is developed. Large presale investors obtain tokens at a...

Descripción completa

Detalles Bibliográficos
Autores principales: Fahlenbrach, Rüdiger, Frattaroli, Marc
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer US 2020
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8591750/
https://www.ncbi.nlm.nih.gov/pubmed/34804319
http://dx.doi.org/10.1007/s11408-020-00366-0
_version_ 1784599315081068544
author Fahlenbrach, Rüdiger
Frattaroli, Marc
author_facet Fahlenbrach, Rüdiger
Frattaroli, Marc
author_sort Fahlenbrach, Rüdiger
collection PubMed
description We conduct a detailed analysis of investors in successful initial coin offerings (ICOs). The average ICO has 4700 contributors. The median participant contributes small amounts and many investors sell their tokens before the underlying product is developed. Large presale investors obtain tokens at a discount and flip part of their allocation shortly after the ICO. ICO contributors lack the protections traditionally afforded to investors in early-stage financing. Nevertheless, returns 9 months after the ICO are positive on average, driven mostly by an increase in the value of the Ethereum cryptocurrency.
format Online
Article
Text
id pubmed-8591750
institution National Center for Biotechnology Information
language English
publishDate 2020
publisher Springer US
record_format MEDLINE/PubMed
spelling pubmed-85917502021-11-19 ICO investors Fahlenbrach, Rüdiger Frattaroli, Marc Financ Mark Portf Mang Article We conduct a detailed analysis of investors in successful initial coin offerings (ICOs). The average ICO has 4700 contributors. The median participant contributes small amounts and many investors sell their tokens before the underlying product is developed. Large presale investors obtain tokens at a discount and flip part of their allocation shortly after the ICO. ICO contributors lack the protections traditionally afforded to investors in early-stage financing. Nevertheless, returns 9 months after the ICO are positive on average, driven mostly by an increase in the value of the Ethereum cryptocurrency. Springer US 2020-11-06 2021 /pmc/articles/PMC8591750/ /pubmed/34804319 http://dx.doi.org/10.1007/s11408-020-00366-0 Text en © The Author(s) 2020 https://creativecommons.org/licenses/by/4.0/Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) .
spellingShingle Article
Fahlenbrach, Rüdiger
Frattaroli, Marc
ICO investors
title ICO investors
title_full ICO investors
title_fullStr ICO investors
title_full_unstemmed ICO investors
title_short ICO investors
title_sort ico investors
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8591750/
https://www.ncbi.nlm.nih.gov/pubmed/34804319
http://dx.doi.org/10.1007/s11408-020-00366-0
work_keys_str_mv AT fahlenbrachrudiger icoinvestors
AT frattarolimarc icoinvestors

Ejemplares similares