00:00It's time for an IQ test. Athanasio Serra Vegas of Bloomberg Intelligence is back with us along
00:04with Isabel Lee and, of course, Eric Bakunas. And we're going to see whether they really know
00:10their ETF stuff. So let's bring it on. Joel Weber provided the questions for us. And here's our
00:16first question. Bond ETFs currently account for about one percentage of total ETF assets. Did
00:21you just groan? Yes. Okay. A, 8%. B, 16%. C, 24%. D, 32%. Isabel, would you like to go first?
00:31Yes. And my
00:32only goal is to beat these two men. I'm going to do D. D, 32%. Okay. I'm going to go
00:38half. I think
00:39it's B. B, 16%. Eric. I'm going to go C. All right. Okay. So we have one of everything, but
00:45we know the
00:45answer is not A, according to these three. The answer is B, 16%. You know why? Because equities
00:52just got so big recently. They've dwarfed bonds. Flow-wise, I bet it's 24%. Okay. That's what I was
00:58thinking, that we saw a lot of bond inflows. Okay. I like the dissecting of the answer, like how you
01:03came up with it. I was really right, basically, is what I'm saying. Me too. If you divide it by
01:07two,
01:07I'm almost right. Next question. According to the latest 13F filings, which of these firms
01:14was the largest known holder of spot Bitcoin ETFs as of June 30th, the second quarter? VanEck,
01:21Brevin Howard, Jane Street, or ARK? C. All right. C is Isabel's answer, Jane Street. And she
01:28sounded pretty certain. Ethan? That's just a secret. I think I'll say B again. B? Okay. Brevin
01:33Howard. Eric? I think it's Brevin Howard. Ready for this? Yeah. Isabel, you got the answer.
01:38Oh, my God. Really? Yes. Wow. In your face, man. Are you old for two? Look, one week off,
01:45and I'm like, soft. It's all rusty. I need to go back to the... Because I always dissect,
01:50you guys always dissect the 13F filings, too. It's usually always the... The reporter wins
01:55out. When I'm looking at that, I'm like, why would they pick Brevin Howard if it wasn't the
01:58answer? Because it's so random of a name versus the other three are like the popular ones.
02:01It's to throw you off. It is. It's a good red herring. Okay. All right. Last question.
02:06Bring it on. Of the $1.3 trillion that's flowed into U.S. ETFs this year, about what percentage
02:11has gone into actively managed ETFs? Is it A, a quarter? B, 35 percent? C, 55 percent? D, 65 percent?
02:21Isabel? D? D? 65 percent? D? I'm going to say the same as Isabel. D. Are you crazy?
02:29If we both get it wrong. Why? You guys totally minimized the big beta blob of flows. I'm going
02:34to go B, 35 percent. All right. You ready for this? Eric is correct. B, 35 percent. All right.
02:40I'm back. I'm back. It took me two questions, but I'm back. All right. Well done, everyone. You
02:44each got a little bit of the quiz correct. I'm just happy I'm not zero. Yeah. No, no, no. I
02:50get you.
02:50I get you. But you were very confident. Can I tell you what you guys were thinking of when you
02:53guessed D? Yes. The launches or something like that. Oh, that's true. You overrate the flows because
02:58there's like so many launches that are active. That colors our sense of what's actually going
03:02on. Yeah. It's the excitement. It's like the buzz factor. It is. We got this Barrett correct.
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