Wu said that Sonic Labs announced the latest update on ETF configuration, stating that although the community previously authorized up to 50 million USD equivalent $S for the launch funds of US-listed ETFs, no tokens have been minted to date due to market deterioration and price decline, and the execution has been paused to avoid unfavorable issuance. Sonic stated that in the future, execution will only occur when $S price is above $0.50, with a strict cap of 50 million USD in total size, prioritizing higher prices and smaller issuance; at the same time, it emphasized that the tokens used for the ETF will be locked within the product, not entering circulation and having no selling pressure impact. Sonic pointed out that the strategic value of the ETF remains unchanged and will continue to promote through institutional compliant channels.