Earlier this year, when $S was trading at higher levels, governance gave the green light to an ETF allocation. As the market cooled, we held off on minting those tokens, and no ETF tokens have been issued. When I came on board as CEO in late September, I chose to keep it paused. At current prices, moving forward as originally proposed would require issuing a substantial number of tokens. That didn't feel right to me. Markets evolve, and it made sense to pause and reassess rather than follow a plan that no longer fit. I remain convinced that institutional access is important for long-term growth, but timing matters. We’ve refined the approach to better reflect current market conditions, and the updated path forward and conditions for moving ahead are outlined in the blog linked below.