 There's a new low-cost gold product on the blog. Joining us now is Will Rine, founder of the recently listed ETF Granted Shares. Will, welcome back to the show. Thank you. Good to be here. You know, I feel like I've really followed your career. I've interviewed you when you were with ETF Securities, the World Gold Council. You were the CEO of Spider ETF, the largest gold-backed ETF. Now you're back with your own product. Exactly, yeah. It's been a bit of a journey in terms of my experience with ETFs. I've been doing this 16 years now. But I felt like last year was the right time to set up my own business and found a new kind of ETF company, and that was Granted Shares. So let's talk about the new ETF. Now, you're branding it as a low-cost ETF accessible to all. You know, why the move here? Well, I think the first thing is, as you know, I've had a lot of experience in gold and commodities and ETFs. And so, founding this ETF bar is the ticker code BAR. I wanted to create what I believe to be the best expression of gold investing and gold ETFs available in the market. So I've taken the experience that I've learned and then applied that now to our own fund bar to hopefully deliver the best possible solution for investors. So when you say it's the best price gold ETF out there, we're talking management fees, not cost per share, correct? Correct. I'm talking about management fees. So our management fee is 20 basis points, contrast that with something like GLD, which is 40 basis points. So two times the price or something like IAU, which is more expensive, 25 basis points. So how are you able to bring down those costs? Well, very simply, we're able to bring down costs because we're a new company and we don't have the overheads that some of these bigger corporations have. And so just like new tech companies can disrupt incumbent providers, it's the same thing for us in the ETF side that the barriers to entry have come down. We can be more nimble, more cost efficient than some of the big providers out there. And very simply, we have a lower overhead. We don't have sort of huge brick and mortar office networks or anything that we need to support. And therefore we can deliver that value to investors. So what audience are you looking to attract here? You know, it's not those, you know, the gold lovers. Is it like millennials? Are you looking to get a younger audience interested in gold? I'm actually looking to get a broader audience into gold than I think has been into gold before. And so first and foremost, this product is for anybody that likes gold. I mean, whether that's a millennial, whether that's a die hard gold investor. You know, what we've done here is delivered the most cost effective gold ETF available in the market today. But more importantly, I think what we've tried to do is identify, you know, from my experience with gold and gold investors. The majority of people think about gold as a hedge. So they're looking to invest or use gold as a portfolio hedge against a market correction, against inflation, against other events which, you know, might take them by surprise. Because of that, as we know, you don't get compensated directly for owning gold. So gold doesn't pay a dividend if you're long like an equity fund or a bond fund. So therefore, for those investors and for our investor base more broadly, I thought it was really, really important to keep those costs as low as possible. So that that hedge works as effectively for the portfolio and for the underlying investors and can be as efficient as it should be. And talking about reaching that broader audience, would you ever consider throwing a cryptocurrency into the mix? You see the rise of Bitcoin? I mean, we're an innovator. So it's our job to deliver the best ideas to the marketplace. And I certainly think that that's an area of the market where there's been a lot of interest. I think that there's a lot of demand, as we've seen from, you know, the really incredible rise in the price of Bitcoin. So never say never, but it's something that, you know, innovative companies like ours are definitely looking at. Now, you have 2.6 million of assets under management. We're seeing, you know, the rise of ETF holdings, you know, a recent report by the World Gold Council showing, you know, 31.4 tons added in August. Last time we saw this momentum is when gold managed to rally to its highs of close to 1900. Are you seeing the same pattern here? Yeah, so I launched a commodity ETF focused business. And we launched our first two funds, COMB, COMG, which are broad commodities at the end of May of this year. And then gold BAR is a follow up to that. I believe that this is a turning point now for commodities. And I think certainly in terms of gold, we've had a lot more interest and the price obviously has responded as those that follow gold will know. But I think we're a turning point. I think that now is a good time for investors to be reevaluating commodities and looking at gold in particular within the portfolio. We have the dollar on a decline this year for the first time in a number of years. We have rising geopolitical risk throughout the world, particularly in places like North Korea. We have increased demand because of that lower dollar coming out of Asia, particularly China and India. And people are looking for diversification in their portfolios. And the price of gold really at a key level right here. What's your forecast? So our forecast for gold this year is very positive. And so from this level where we are now, we think that gold has the ability to continue to increase in value over time for precisely the reasons that we pointed out. But also because investors are now looking at gold's investment asset for the first time in a number of years because of their fears about an overvalued stock market and overvalued asset prices more broadly. And so we're starting to see a lot of people reevaluating gold and commodities more broadly, looking for those uncorrelated asset classes. And when you think about gold, it's pretty much the largest, most famous uncorrelated asset class out there. And so it's important for us to be able to deliver something like that to investors. Well, Ryan, best of luck with this new venture. Thank you so much.