Jay Jacobs

You know, imagine having a financial analyst that can help you pour through news or earnings reports, sell side reports, et cetera, consolidate all that information, put it into an Excel file or a PowerPoint presentation, you name it.

There's a lot of things that an AI agent can now be programmed to do and really take on a significant amount of tasks for people in a wide variety of different industries.

And so that's why we're so focused across the entire AI value chain, because as you see more adoption of agents, it's really going to flow across that entire value chain where you see companies profiting off of that.

Well, interestingly, despite the amount of capital we're seeing allocated to infrastructure, it remains a relatively small part of people's portfolios.

In fact, average infrastructure allocation in the S&P 500 is about only 3%, so less than some of the MAG7 names alone.

And yet we just see tremendous amounts of drivers for more infrastructure spending.

We have changing demographics around the world, which is growing economies, growing populations that need

More infrastructure.

We have aging infrastructure, particularly in the developed market where a lot of it was built in the 1960s and needs to be refreshed.

We have changing infrastructure demands where it's not only about physical infrastructure.

There's also needs for digital infrastructure going forward.

And so there's really a lot of tremendous tailwinds behind infrastructure, and yet it remains a relatively small part of people's portfolios.

So I think we're going to see a significant amount of investment over the next several decades.

I think a lot of that is going to increasingly come from the private sector, given that a lot of governments just simply can't afford to keep building more infrastructure.

And that should likely drive more and more investors to allocate to infrastructure as an asset class in their portfolios.

Well, iBit was a product, is a product that really bridges between traditional finance and decentralized finance.

The idea that we could take a decentralized finance asset like Bitcoin, wrap it in an exchange traded product and make it available to basically anyone with a brokerage account brought DeFi into the TradFi world.

And we expect that trend to likely to continue.

There's a lot of demand for assets that can behave differently than stocks and bonds.

And so we've seen a tremendous amount of interest from the traditional finance space in an asset like Bitcoin, where it's more driven by things like geopolitical uncertainty, rising distrust in institutions, the risk of debasement of currencies or rampant inflation.