
So we have more breaking news, which is crazy, Simon, because Matt did say this kind of yesterday, but we have VanEck filing for a Solana trust just now with the SEC. Now I am not a lawyer enough or about Unis and Safer and Bloomberg enough for me to tell you if this is the same as an ETF or what it is, but literally Matt Siegel, I said, there's no way we get a Solana ETF and he kind of said, Scott, you might be surprised yesterday. I did. I mean, I just I can't see it. We can't see it happening. I trust I can because we've had a number of companies that do like a GBTC ETH type thing. I think even Grayscale probably has these, but still seems to be pretty big news. Yeah. So this is the slippery slope that I guess the SEC was trying to prevent happening when by, you know, whether they delayed approving the Bitcoin ETF. Unbelievably, Scott, it's all happened this year. Can you believe this only just started in January? So obviously they got forced into thanks to the judicial system approving the Bitcoin ETF. Then we got this surprise where we thought, OK, let's let the election cycle run through. It looks like the SEC is coming after ETH as a security that relates to the Coinbase Freedom of Information, because obviously they were trying to get ahead of that. They wanted to offer ETH staking as a service. They didn't know whether it was a security, whether it's not. So they make assumptions. They acquire the licenses that they need. You know, this is all regulatory uncertainty. This isn't bad actors. And then you get the surprise ETH ETF as a result of RFK saying, I want to support Bitcoin. Then Trump coming out saying, I support crypto. And then Biden having to react and the anti Elizabeth Warren effect. And so the whole political process fast tracked, embarrassing the SEC, making it look like they're not focused on consumer protection, but they're actually larger political forces that are determining what needs to be protected or not. And now if we get the Solana, it pushes them further, further down. What is a security? What's not a security? And I think in the end, this drives to what the SEC should have done in the in the first place, rather than the CFT trying to get the fines from all the Bitcoin companies and the SEC trying to get all the fines from the Bitcoin companies and the IRS trying to get all the tax by not classifying these things in the way that they should be. You now need a virtual asset service provider regime. The US needs to do what the rest of the world is doing. And then the market can open up and the SEC can get focused on disclosures. The virtual asset side can get focused on, you know, preventing money laundering. The IRS can focus on tax collection and the industry can just move forward. And if we have a Solana ETF, it's under a position of certainty with a good regulatory regime. And the US can just get on with not just being the best capital markets in the world, but also have a race of being the best virtual asset market in the world.