My guess is Saylor has able to raise ~$200-225M from his structured products this wk which is substantially less than the ~$1-2B that has been made available / is readily available on the ETH TCo end I suggest that ETHBTC has not risen enough relative to the gap in flows created. There was a 30% uptick in the last 2 weeks of July from a much smaller difference in quantum existing b/w the two from a visible demand perspective (~10%) I believe that a "lag" exists b/c of turnover around what you could creatively call "working capital" for these TCos, RE: from the time they receive capital to the time they deploy Think there is furthermore a gap in sentiment as yday was very noisy around the EO & how incumbent products, such as BTC and BTC.D could theoretically benefit the most. If this moat indeed exists: on the first day that this re-distribution could have occurred (today): Shouldn't we have seen that ▲ in appetite? Yet, the MSTR product everyone has been championing RE: STRC - traded at its lowest volume ever @ 800K shares (was averaging 1.4M this wk / 2.0M since inception) - on the same day that ETHA / SBET / BMNR volumes went significantly up Therefore I think it's fair to ask: