First of all, there are two kinds of crude oil indexes, one is West Texas Intermediate, which we saw on the news, and the other is Brent light crude oil in the North Sea, which belongs to the London Crude Oil Exchange. These two are the two most active crude oil indexes in the world. Some domestic platforms trade the former and some trade the latter, but the trend of the two is basically the same, but the latter is about $7 more expensive than the former.

In response to your question, they certainly don't belong to the fund. They are a commodity. The pricing power of the former is in the United States, while the pricing power of the latter is in London. Simply put, just like silver and gold, the whole world accepts negotiable products. Then the object of our business is their price index. As long as the price fluctuates, we can participate in it, making a profit or losing money.

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