i'm assuming also ed ludlow. i'm romaine bostick. our podcast.out on the terminal, online, at apple, spotify, and i heart. this is bloomberg. ♪ >> welcome to bloomberg etf iq. katie: we finally have the private at launch. the sec is not happy about it more than $15 trillion global etf industry and as we mentioned, that much anticipated private credit etf from state street and apollo already off to a rocky start with the sec voicing concerns,