to its credit, the van eck application tries to address these issues by putting a hefty $200,000 pricethe initial entry to join the club thus scaring oil out of retail investors and they also add a layer of insurance to protect investors in the event that the coins are hacked or stolen, but this is not likely to satisfy the sec. now does it really matter if we get a bitcoin etf or not i think it does matter i think it matters or not. the whole summer rally going from 6300 to 8300 in a couple of weeks. that was the middle of july and that was largely based on speculation that a bitcoin etf might be approved. no surprise the recent top in bitcoin was july 25th and that was the day before the sec denied the winklevoss application and it was down eight of the last ten trading days and it's right back to where it was before all of this speculation started. scott, the reason i think this is worrisome is that obviously bitcoin doesn't have a lot of internal energy on its own and it's depending upon new buyers coming in to move the price up and that was the big hope behind the etf. i still thi

the van eck decision will come at the end of september.actually have until february so i would expect in september they push it off we also talk so that's 2019 and also the surveillance, and the sec talked about fraud and manipulation it wasn't so much preventing it, but how do they surveil it do they have an arrangement with other exchanges? are they globally regulated or at a nasa level, regulated exchanges to surveil what's going on and finally, the futures market isn't mature enough and that's probably true at this point in time although it's growing that's why i think as we get into 2019 we get a better shot of it. >> here's cme futures and open interest of large holders. since april, you're starting to see this big increase. that's about an 85% increase or growth rate that they're having. so if you extrapolate that out by february of 2019, you will have a very, very robust market and add in something like the nyse and the exchange coming out, that's going to add to it and finally, we still have to hear from commissioner hester who in