And I'm curious as somebody like yourself deep in the space, what are some of the metrics that you look at that you think are most helpful?

Yeah, so I'm coming on 20 years in asset management, most of which, as you can imagine, was spent in a traditional asset manager.

So when I started to get into crypto and start to build that, my last shop, there were a few raised eyebrows.

And you can't value them was one of the, I would say, probably one of the strongest arguments at the time.

It's very different now.

These are... effectively companies, yes, decentralized, many of them, but they have revenues, they have different revenue streams, they have business development teams, they have overheads.

And what we look at is top line revenue, but also profitability and then the value accrual to the token, which ultimately is what an investor in any of these should care about.

And so ultimately, I think you're going to have additional competition in that space, whether we're talking perpetuals or… or you know other products and then of course there's a regulatory angle there as well just in terms of its limited access especially here in the us how do you view those items i mean what's next for the platform i

Is that maybe the thing that has been holding the market from really going all in? Or do you think it's more of an investment strategy?

I mean, I think the health of the market also will result in the flows coming in and out.

I wouldn't say retail have held back.

What I think is that there have been blockers in the way.

Not all intermediary companies have been comfortable offering crypto exposure, crypto ETFs.

And with things like clarity, it's just an indication that the powers that be are supportive of the asset class that will give confidence to those intermediary companies, the platforms, the warehouses to offer crypto ETFs to their investors.

And then we see the flow.

If you looked at the market over the next year, last question, and you're concerned with anything right now from a macro environment, are you watching what the Fed is doing? Are you looking at current inflation here in the US that dictates how you guys are approaching the market?