00:00 Speaker A

How much differentiation is there between the different products at this point? I know kind of in a crypto bear market, we seem to see everything down at once, right? So I I would anticipate that flows would reflect that. But from the data that I’ve seen, some products hold up better than others.

00:23 Speaker B

Yeah, well, certainly Hyper Liquid, uh in particular has been attracting significant flows. I think we’ve had steady inflows on almost every day into B-Hype, which is our Hyper Liquid ETF. It’s been the best performing large cap crypto asset and performance cells. It’s also, in my view, still undervalued versus the market opportunity it’s going after. So, I think you are seeing investors…