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FOR WE GET TO HIM, ERIC IS GOING TO GIVE US A DRILL DOWN ON THE SPACE. >> THIS IS A BIG GAME FOR BLOCKCHAIN ETF'S. THERE'S A LOT OF TRADING ACTIVITY. WE SEEK $20 MILLION TRADED TODAY, SO A BIG FIRST DAY FOR THESE TWO PRODUCTS TODAY. WITH NEXT GEN ETF, THE FCC DID NOT WANT TO PUT BLOCKCHAIN IN THE NAME. SO THEY HAVE TO PUT DIFFERENT NAMES. ESSENTIALLY, THESE ARE BASICALLY TRYING TO CAPTURE THIS WHOLE MOVED TO THE BLOCKCHAIN TECHNOLOGY. THIS IS DIFFERENT FROM BITCOIN FUTURES. WE HAVE THESE. WHAT DO THEY HOLD? WE LOOK AT THE HOLDINGS OF CLM -- OR BL CN. THERE ARE SOME JAPANESE COMPANIES AND HERE. YOU HAVE SOME SMALLER NAMES THAT PEOPLE NO AS BLOCKCHAIN COMPANIES. HOW DOES THIS COMPARE TO OTHER BLOCKCHAIN ETF'S? HERE YOU HAVE THE TICKER -- BL CN IS ACTIVE. WE SHARES IS GOING TO HAVE WAY LESS SMALL-CAP AND MORE INTERNATIONAL. YOU ARE GETTING DIFFERENT EXPOSURE -- OVER 60% OVERLAP , SO YOU HAVE TO BASICALLY DO YOUR HOMEWORK IS THE RETURNS MAY NOT EXACTLY BE THE SAME. SCARLET: THANKS SO MUCH. ERIC, TELL US HOW BLCN IS ACTIVE -- TELL US ABOUT YOUR PROCESS AND HOW YOU SCREEN THESE BLOCKCHAIN COMPANIES. >> A VERY LONG-TERM CYCLE IS GOING TO PLAY OUT. COMPANIES USING BLOCKCHAIN IN THEIR BUSINESS ARE GOING TO BE IMPACTED WITH AN INCREASE IN REVENUES AS WELL AS A DECREASE IN OVERALL COST STRUCTURE. WE WANTED TO TAKE IT SERIOUSLY BECAUSE IT IS SERIOUS. AS FAR AS I AM CONCERNED, ANY TIME YOU CAN TAKE HUMANS OUT, YOU ARE USUALLY BETTER OFF. THAT IS WHY WE BELIEVE IN PASSING -- IT IS SUCH AN INNOVATIVE TECHNOLOGY, YOU NEED HUMAN INTERVENTION AND THEIR T OO. WE LOOK AT THE NUMBER OF PATENTS THEY HAVE ISSUED, ARE THEY A MEMBER OF AN INSTITUTE? THERE IS A LOT OF BLOCKCHAIN INSTITUTES. PUBLIC LEDGER INSTITUTES -- AND THEN WE TAKE A MORE HUMAN APPROACH TO THE REST OF IT. THIS IS THE ECONOMIC IMPACT. IBM IS MASSIVE AND BLOCKCHAIN, BUT EVEN IF EVERYTHING IS RIGHT WITH BLOCKCHAIN, HOW MUCH IS IT GOING TO TAKE TO MOVE THAT GIANT, SUPERTANKER IN THE RIGHT DIRECTION? WHAT IS GOING TO BE THE ECONOMIC IMPACT OF THAT? SCARLET: IBM IS THE BIGGEST HOLDER OF ETF -- >> WHAT WAS THAT BALANCE LIKE, A LOT OF PEOPLE ASK ME ABOUT WHAT IS IN THEIR -- YOU CAN'T HAVE SMALL COMPANIES. WHAT IS THE BLOCKCHAIN EXPOSURE HERE? >> WHAT YOU ARE SUING -- SEEING IS TWO OR THREE COMPANIES. THERE ARE A TON OF SCAMS OUT THERE, CHANGE YOUR NAME, AND YOU ARE GOOD TO GO, AND YOUR STOCK IS UP BY 500%. WE WANT TO COME UP WITH A METHODOLOGY. IBM IS A MEANINGFUL, GENUINE, MEANINGFUL PRESENCE IN THE BLOCKCHAIN. THEY STARTED INVESTING IN BLOCKCHAIN TECHNOLOGY FOR YEARS AGO. A HUNDRED MILLION DOLLARS INVESTMENT. THESE ARE GOING TO HAVE TRANSFORMATIONAL SHIFTS IN THE BUSINESS. IT IS GOING TO IMPACT A LOT OF THE FINANCIALS ARE YOU NOT PRESENT VALUE -- THAT IS A MEANINGFUL IMPACT ON SOME OF THESE MAJOR COMPANIES THAT ARE USING IT. SCARLET: I AM GLAD YOU BROUGHT UP THE NAME. THE FCC ASK YOU TO CHANGE IT. THERE ARE STILL WATCHING ETF'S IN THE PIPELINE AS WELL WHO WILL CHANGE YOUR NAME TOO. APPARENTLY, IT CAN CONFUSE PEOPLE. HOW DO PEOPLE FIND YOUR ETF IF THEY CAN'T LOOK IT UP WITH BLOCKCHAIN IN THE NAME? >> THE FCC IS GOING TO GET COMFORTABLE WITH THIS, EVENTUALLY. IT IS LIKE ENVIRONMENTALLY RESPONSIBLE -- YOU CAN'T SAY THAT 50% OF THE REVENUES ARE COMING FROM THE SG -- ESG. THERE ARE SEVEN FACTORS, AND WE WANT TO CAUSE THE BLOCKCHAIN SCORE LEADERS -- AND WE WANT TO HAVE A BLOCKCHAIN SCORE. THAT ACTUALLY MET THE FCC'S REQUIREMENTS. THE DINNER -- BUT THEN THERE ARE UNCOMFORTABLE. INSTEAD OF THE, WE DECIDED TO CHANGE THE NAME. SCARLET: SO THEY CHANGED BACK TO BLOCKCHAIN? >> IT IS LIKE THE INTERNET. IT BECOMES UBIQUITOUS. LET'S CALL IT BLOCKCHAIN TECHNOLOGY ETF. >> LET'S TALK ABOUT THE TICKER. TWO QUESTIONS, ONE, THESE TICKERS APPEAR TO HAVE A BLOCKER. NUMBER TWO IS, BLOCK MIGHT HAVE THE EDGE OF A LITTLE BIT -- WHAT MADE YOU PICK THE TICKER THAT YOU DID? >> I AGREE, TICKERS MATTER. BUT THIS IS GENUINE. WE HAVE A BLOCKCHAIN ADVISORY BOARD. ALL INDUSTRY EXPERTS FROM ACADEMIA TO WORKING ON THIS. IT WASN'T LIKE WE PUT A QUICK TICKER ON THERE AND SEE HOW MUCH MONEY WE CAN RAISE. THIS IS A LONG-TERM EFFORT. IT IS REPRESENTATIVE OF THE BLOCK AND THE CHAIN. IT IS NOT JUST COME UP WITH A CLEVER TICKER THERE. >> IT IS MORE SUBTLE. SCARLET: TALK ABOUT THIS COMFORT LEVEL FROM THE FCC. WE HAVE THE FIRST BLOCKCHAIN ETF. I WILL HE SEE THE FIRST BITCOIN ETF? >> OUR FIRST ETF WAS A SWAP BACK ETF. IT TOOK A GOOD TO IT A HALF YEARS. I KNOW THIS VERY WELL, AND ERIC HAS BEEN COVERING THIS QUITE WELL. AND I AM WITH HIM, FUTURES-BASED ETF FOR THE FIRST TO LAUNCH. SCARLET: SECOND QUARTER? >> POSSIBLY. THE FCC IS WALKING UP A LITTLE BIT -- AND THE MORE IT SETTLES OUT, I THINK THE MORE WE COULD SEE AN ETF IN THE SECOND QUARTER. SCARLET: ERIC.