00:00What does it mean when they talk about tokenizing this ETF?
00:05So what tokenization in general is when you convert normal assets, stocks, bonds, even
00:10private equity into shares that you just put in a blockchain and they want this ETF share
00:14to be.
00:15So it will maintain the same bill, same regulatory structure, same disclosure, same everything.
00:20It's tokenized.
00:21And so why start with something like.
00:25T bill here, because again, you think about sort of the spectrum of excitement short.
00:30Term Treasury bills are on one end and then I have to imagine things like the blockchain
00:34and tokenization.
00:35I think on their end, it's the most liquid and it's the biggest ETF they have.
00:39It's six points.
00:40They have over 18 ETFs or let's just say a dozen or so, and it's by far the largest.
00:45I think that's what you need, especially when you do this, because why do you even tokenize
00:48many reasons in theory.
00:50It's supposed to make settlement faster ETFs are T plus one now.
00:52It's supposed to be instantaneous.
00:55And now you have, instead of the traditional piping of the NYSE, NASDAQ or SIBO.
01:00It's on the blockchain, so you attract a new audience and it reduces back to our office.
01:05work in theory.
01:06So we have yet to see it in practice.
01:08I think it's the first, according to.
01:10to them, so it's really going to be interesting if the SEC approves it.
01:12So does the Assure FM Investments actually need.
01:15SEC approval or can it simply move forward as long as the SEC doesn't flat out reject the.
01:20I think for this case, they do need SEC approval because they want it to be in the same system.
01:25Yes, we have reported on private credit funds, tokenizing the same private credit funds, but then.
01:30Then it's not listed in the exchange.
01:31So for this one, I see.
01:33It definitely needs SEC approval.
01:35And just very quickly here, does this change what T-Bell holds or how.
01:40It trades, I mean, for the user of T-Bell, for the owner of T-Bell, does it change your experience?
01:45In any way, not at all.
01:46So for us, it's going to be exactly the same.
01:48It's like buying the way.
01:50The way they say it is, it's like a credit card.
01:52You just swipe and you shop and you buy.
01:54You don't really know how it works.
01:55So that's how sources I talk to say.
01:57That's how they want it to work.
01:58They just want it to be seamless for them.
02:00The consumer or the investor without really knowing the back end.
02:03And in theory, again, I always.
02:05I say in theory, this is supposed to be more seamless.
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