what precisely happens when you buy a share of VXX?


VXX seems to have two prices or someone can explain it for me.

price #1 = the price traded during market activity of buyers and sellers.

price #2 = the wierd calculations by the “vxx” people and this price is somehow massaged into the trading price to somewhat mirror VIX

Can someone help me out? What does buying a share of VXX mean and how does it influence price if the price of VXX is not supposed to be based on market participants? (And yes im aware of VXX being this depreciating thing)


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