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   Plus, a trillion-dollar robot city in the desert |
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                               <a class="text-blackLight no-underline font-extrabold" style="font-weight: 800; color: #3C4857; text-decoration: none;">
                                TOGETHER WITH
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                   Hi Sarah, here's what you need to know for
                   <strong>
                    June 21st
                   </strong>
                   in
                   <strong>
                    3:13 minutes
                   </strong>
                   .
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                    <span class="font-normal" style="font-weight: 400;">
                     SoftBank’s dreaming up a trillion-dollar AI empire in the desert, for an industry that’s already feeling all kinds of heat
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                    <span class="font-normal" style="font-weight: 400;">
                     Here’s what JPMorgan Private Bank sees ahead for markets, after a strange start the year –
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                      Read Now
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                     Pop Mart’s creepy-cute Labubu dolls have sparked a global craze – and with shares up sixfold, the $20 toy is delivering luxury-level returns
                    </span>
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                     🥑 Finimized over an avocado croissant at
                     <a style="color: #204CE9; text-decoration: underline; font-weight: 500;">
                      Cafe Krone
                     </a>
                     in Berlin, Germany (🌤 17°C/63°F)
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               AI And Cacti
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              <p style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
              </p>
              <p data-block-key="tz6u4" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                What’s going on here?
               </b>
              </p>
              <p data-block-key="5meam" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               SoftBank’s looking to build a $1 trillion AI and robotics hub in the Arizona desert – and it wants TSMC and other firms to throw in some green.
              </p>
              <p data-block-key="1mlq0" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                What does this mean?
               </b>
              </p>
              <p data-block-key="8a3h5" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               The ambitious plan (dubbed “Project Crystal Land”) would create a sprawling, China-style industrial complex, but in America. SoftBank’s in talks about it with chipmaking behemoth TSMC, Samsung, and the US government. Makes sense: TSMC already has plans to invest $165 billion in other US factories, and SoftBank will need both partners and government support to turn this idea into desert-scape reality. But the Japanese firm isn’t short on firepower, thanks to gains from its stakes in both T-Mobile and chip designer Arm, which could help bankroll the project. For SoftBank’s founder, the plan is a chance at redemption: his career has swung between stunning returns and stunning losses, so this bold move could be the ultimate comeback story.
              </p>
              <p data-block-key="cfkmm" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                Why should I care?
               </b>
              </p>
              <p data-block-key="6gq9u" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                <i>
                 Zooming out:
                </i>
               </b>
               <i>
                The battle to block the bots.
               </i>
              </p>
              <p data-block-key="a3f60" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               While tech firms and billionaires sketch out robot utopias, the AI industry’s dealing with lawsuits. The BBC has just threatened to sue AI search startup Perplexity for using its content, which is just one instance of a much bigger problem. See, AI models like ChatGPT and Claude were trained on huge troves of online data – much of it gathered before media companies knew what was going on. Now, there’s an option to “opt out”, but AI bots allegedly ignore that entirely and grab the content anyway. It’s not just news organizations complaining, either: Reddit’s taking Anthropic to court for allegedly slurping up user posts, and the music industry is firing back at AI-generated tracks that sound a little
               <i>
                too
               </i>
               human. It’s clear that industries of all kinds are still in the process of ironing out exactly who owns the stuff AI spits out when it’s working from copyrighted raw material.
              </p>
              <p style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0;">
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               <b>
                You might also like:
               </b>
               <a style="color: #204CE9; text-decoration: underline; font-weight: 500;">
                SoftBank is trading cheap, and that could be an opportunity
               </a>
               .
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                  <strong>
                   Copy to share story:
                  </strong>
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                   https://app.finimize.com/content/ai-and-cacti
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                         <span style="font-family: Helvetica, Arial, sans-serif; font-size: 12px; font-weight: bold; color: #E6F14A; display: inline-block;">
                          FROM OUR RESEARCH DESK
                         </span>
                        </td>
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                         <h2 style="font-weight: 700; line-height: 1.25; margin-bottom: 16px; font-size: 24px; color: #FFFFFF; margin: 0 0 4px; font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif; margin-top: 0;">
                          What A Weird Six Months It’s Been In The Markets
                         </h2>
                         <p style="line-height: 1.5; margin-top: 0; margin-bottom: 16px; font-family: Helvetica, Arial, sans-serif; font-size: 14px; color: #FFFFFF; margin: 0;">
                          Russell Burns
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                      <img alt="What A Weird Six Months It’s Been In The Markets" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FInsight-200625-Weird6months_1.original.jpg%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253D747e9dd6fe8a1c34ef5ea9af5541d0b2/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NTA0NTcxMDQuNjUyNTcxfQ:1uSjr6:y_dYjSWC5lmon9dHR6A95uxi3wHPZuZgdrkVE9pWljo" style="max-width: 300px; border-radius: 4px;" width="300"/>
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                    <td class="premium-story-text" style="padding-top: 24px;">
                     <p data-block-key="xjbe2" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; color: #fff;">
                      The first half of this year has been
                      <a style="color: inherit; text-decoration: underline; font-weight: inherit;">
                       out of the ordinary
                      </a>
                      , to say the least.
                     </p>
                     <p data-block-key="bs3gd" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; color: #fff;">
                      After more than a decade of US market dominance, international stocks have charged ahead in the past six months to lead – and
                      <a style="color: inherit; text-decoration: underline; font-weight: inherit;">
                       not by just a little
                      </a>
                      .
                     </p>
                     <p data-block-key="2sn8i" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; color: #fff;">
                      That’s had folks wondering whether this is merely a pause in US exceptionalism, or the start of
                      <a style="color: inherit; text-decoration: underline; font-weight: inherit;">
                       something more permanent
                      </a>
                      .
                     </p>
                     <p data-block-key="cp1j2" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; color: #fff;">
                      And
                      <a style="color: inherit; text-decoration: underline; font-weight: inherit;">
                       JPMorgan Private Bank
                      </a>
                      ’s just-released outlook for the rest of 2025 could help answer that burning question.
                     </p>
                     <p data-block-key="996s2" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; color: #fff;">
                      That’s today’s Insight:
                      <a style="color: inherit; text-decoration: underline; font-weight: inherit;">
                       a look ahead, after a weird six months in the markets
                      </a>
                      .
                     </p>
                     <p data-block-key="eduul" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0; color: #fff;">
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                       <b>
                        Read or listen to the Insight here
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                      </a>
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                  <div style="font-family:Helvetica, Arial, sans-serif;;font-size:13px;line-height:1;text-align:left;color:#000000;">
                   <h4 data-block-key="2t5l4" style="font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif; font-weight: 700; line-height: 1.25; margin-bottom: 16px; color: #171E27; font-size: 20px; font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif; margin-top: 0;">
                    <b>
                     You don’t put all your money into one stock, so you shouldn’t bet it all on one cryptocurrency, either.
                    </b>
                   </h4>
                   <p data-block-key="8g0u8" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                    Instead, you could invest in the
                    <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                     entire ecosystem
                    </a>
                    of companies that make digital assets possible. We’re talking
                    <b>
                     miners, exchanges, tech providers, blockchain innovators, crypto services, and fintech go-getters.
                    </b>
                   </p>
                   <p data-block-key="3lq8q" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                    And it’s no more work than choosing a single coin: with State Street’s ETFs, you can
                    <b>
                     invest in dozens of companies and securities in one trade and avoid managing individual investments.
                    </b>
                   </p>
                   <p data-block-key="81d4g" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                    <b>
                     You’d be diversifying your crypto portfolio in the process, too, meaning a loss from one asset will impact you less – it may even be totally offset by a gain elsewhere.
                    </b>
                   </p>
                   <p data-block-key="6r42d" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0;">
                    You’d be in good hands. These digital asset ETFs are built by
                    <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                     State Street Global Advisors
                    </a>
                    – the brains behind the world’s first S&amp;P 500® ETF and the world’s biggest physical gold ETF* – and
                    <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                     <b>
                      managed by Galaxy Asset Management
                     </b>
                    </a>
                    . That’s right, one of the world’s biggest digital asset investment managers.
                    <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                     Discover more here
                    </a>
                    .
                   </p>
                  </div>
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                 <td align="left" class="content disclaimer" style="font-size:0px;padding:32px 0 0;word-break:break-word;">
                  <div style="font-family:Helvetica, Arial, sans-serif;;font-size:13px;line-height:1;text-align:left;color:#000000;">
                   <p data-block-key="ysmi5" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    <b>
                     Footnotes:
                    </b>
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                    * Bloomberg Finance L.P. &amp; State Street Global Advisors, data as of May 28, 2025. GLD commenced operations on November 18, 2004. Note GLD AUM is $98.2 billion and 180-day average dollar volume over 2.3 billion. Note: 180-day average dollar volume is based on 180 trading days.
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              <span class="text-heading1 text-black font-black" style="font-weight: 900; color: #283444; font-size: 24px;">
               Striking It… Kitsch
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                 <a style="color: #204CE9; text-decoration: underline; font-weight: 500;" target="_blank">
                  <img alt="Striking It… Kitsch" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-200625-PopMart.original.jpg%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253Dd354df0747b0bde0cb28e60662ef4d26/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NTA0NTcxMDQuNjUzMDM1OX0:1uSjr6:1gs1O_HDpX6nNb-pFkATbrsLwyyqI3E-RL6LdY07-Uc" style="border:0;border-radius:4px;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="568"/>
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              <h4 class="text-body" style="font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif; font-weight: 700; line-height: 1.25; margin-bottom: 16px; color: #171E27; font-size: 16px; font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif; margin-top: 0;">
              </h4>
              <p style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
              </p>
              <p data-block-key="uskwv" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                What’s going on here?
               </b>
              </p>
              <p data-block-key="59jv7" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               Chinese toymaker Pop Mart’s snaggle-toothed plushies are fueling a global frenzy – going viral, selling out, and racking up resale prices fit for fine art.
              </p>
              <p data-block-key="5dppv" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                What does this mean?
               </b>
              </p>
              <p data-block-key="ammet" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               The gremlin-meets-elf “Labubu” dolls are more than a toy: they’re a phenomenon. Crowds are swarming stores from Paris to Seoul, TikTok feeds are littered with the dolls, and even celebrities are clutching these creepy-cute collectibles. Sold in blind boxes (so you don’t know which toy you’re getting till you’ve bought it), Labubus have sparked in-store scuffles and a booming resale market. At one recent auction, a human-sized one sold for over $160,000. Yes,
               <i>
                really
               </i>
               .
              </p>
              <p data-block-key="5qk7" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               With plushies priced as low as $20, Pop Mart’s riding the “lipstick effect” – where consumers trade down from big-ticket luxuries to smaller indulgences. And it’s working: shares of the company have risen more than sixfold in the past year. That kind of performance is making even analysts look at the toys.
              </p>
              <p data-block-key="98e2s" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                Why should I care?
               </b>
              </p>
              <p data-block-key="ap1h0" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                <i>
                 For markets:
                </i>
               </b>
               <i>
                The appeal of the “ugdorable”.
               </i>
              </p>
              <p data-block-key="2stco" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               While legacy toymakers like Mattel and Hasbro chase the next Barbie movie moment, Pop Mart’s been cranking out must-have hits, with fast-changing characters, clever marketing, and collector hype. Its ugly-adorable Labubus have high margins, a global fanbase, and serious momentum – so much so that Pop Mart’s market value now dwarfs that of Mattel and Hasbro
               <i>
                combined.
               </i>
               But, fair warning, toy trends fade quickly. And if Labubus fall out of fashion, sales could tumble real fast.
              </p>
              <p data-block-key="8nna8" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                <i>
                 Zooming out:
                </i>
               </b>
               <i>
                China’s soft power is… plush.
               </i>
              </p>
              <p data-block-key="dgeig" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               The Labubu may be odd, but it’s not an oddity: it’s part of a bigger trend. Chinese companies aren’t just making things for other brands anymore – they’re selling directly to global shoppers. While the Chinese government keeps factories humming with steady investments, brands are setting their sights beyond the home market. The next growth wave might not be just made in China, but sold
               <i>
                by
               </i>
               China too – one smiling monster at a time.
              </p>
              <p style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0;">
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               <b>
                You might also like:
               </b>
               <a style="color: #204CE9; text-decoration: underline; font-weight: 500;">
                How to invest in a post-globalization world
               </a>
               .
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                  <strong>
                   Copy to share story:
                  </strong>
                  <a class="text-black60 font-normal" style="text-decoration: underline; font-weight: 400; color: #71767B;" target="_blank">
                   https://app.finimize.com/content/striking-it-kitsch
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                  QUOTE OF THE DAY
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                 <p class="font-heading font-bold text-navy leading-snug mb-2 text-subtitle" data-block-key="cygyq" style="margin-top: 0; font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif; font-weight: 700; line-height: 1.375; margin-bottom: 8px; color: #0C73EC; font-size: 20px;">
                  "Procrastination is the art of keeping up with yesterday."
                 </p>
                 <span class="text-caption font-normal text-blackLight leading-normal" style="font-weight: 400; line-height: 1.5; color: #3C4857; font-size: 12px;">
                  – Don Marquis (an American humorist, journalist, and author)
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                   <p data-block-key="2t5l4" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                    Benjamin Franklin said that death and taxes are life’s only two certainties.
                   </p>
                   <p data-block-key="cekpk" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                    Well,
                    <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                     tech entrepreneur Bryan Johnson
                    </a>
                    is spending millions of dollars a year to dodge death.
                   </p>
                   <p data-block-key="136nj" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                    And if you invest wisely, using the right tools and funds, you could protect your earnings from tax. (
                    <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                     Our free guide
                    </a>
                    shows you how.)
                   </p>
                   <p data-block-key="2d9l8" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0;">
                    Time for a new catchphrase, Benny.
                   </p>
                  </div>
                 </td>
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              </table>
             </div>
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            </td>
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        </div>
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       </td>
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    </table>
   </div>
   <!--[if mso | IE]></td></tr></table><table align="center" border="0" cellpadding="0" cellspacing="0" class="flexi_content_6-outlook content-outlook" role="presentation" style="width:600px;" width="600" ><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;"><![endif]-->
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        <!--[if mso | IE]><table role="presentation" border="0" cellpadding="0" cellspacing="0"><tr><td class="" width="600px" ><table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600" bgcolor="#ffffff" ><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;"><![endif]-->
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          <tbody>
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            <td style="direction:ltr;font-size:0px;padding:32px 16px;text-align:center;">
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                 <td style="vertical-align:top;padding:25px;padding-top:16px;padding-bottom:16px;">
                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
                   <tbody>
                    <tr>
                     <td align="left" style="font-size:0px;padding:0;word-break:break-word;">
                      <div style="font-family:Helvetica, Arial, sans-serif;;font-size:13px;line-height:1;text-align:left;color:#000000;">
                       <p class="content-box-header mb-4" style="line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; font-weight: 900; font-size: 16px; margin-bottom: 16px;">
                        🎯 On Our Radar
                       </p>
                       <p data-block-key="wnzwo" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                        1.
                        <b>
                         Artists, look away now.
                        </b>
                        Time to make up your
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         mind on artificial art
                        </a>
                        .
                       </p>
                       <p data-block-key="3h5ad" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                        2.
                        <b>
                         Brush your teeth and
                        </b>
                        <b>
                         <i>
                          don’t
                         </i>
                        </b>
                        <b>
                         order the marinara sauce.
                        </b>
                        These first date “icks” could leave you
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         standing alone in less than 60 seconds
                        </a>
                        .
                       </p>
                       <p data-block-key="2pcrg" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0;">
                        3.
                        <b>
                         Your suit and tie won’t save you now.
                        </b>
                        If you’re making these email mistakes,
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         your coworkers probably talk behind your back
                        </a>
                        .
                       </p>
                      </div>
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   </div>
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        <!--[if mso | IE]><table role="presentation" border="0" cellpadding="0" cellspacing="0"><tr><td class="" width="600px" ><table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600" bgcolor="#ffffff" ><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;"><![endif]-->
        <div style="background:#ffffff;background-color:#ffffff;margin:0px auto;max-width:600px;">
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          <tbody>
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            <td style="direction:ltr;font-size:0px;padding:32px 16px;text-align:center;">
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              <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
               <tbody>
                <tr>
                 <td style="vertical-align:top;padding:25px;padding-top:16px;padding-bottom:16px;">
                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
                   <tbody>
                    <tr>
                     <td align="left" style="font-size:0px;padding:0;word-break:break-word;">
                      <div style="font-family:Helvetica, Arial, sans-serif;;font-size:13px;line-height:1;text-align:left;color:#000000;">
                       <p class="content-box-header mb-4" style="line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; font-weight: 900; font-size: 16px; margin-bottom: 16px;">
                        🎙 Finimize Live
                       </p>
                       <h4 data-block-key="ajntp" style="font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif; font-weight: 700; line-height: 1.25; margin-bottom: 16px; margin-top: 24px; color: #171E27; font-size: 20px; font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif;">
                        Grab your free tickets...
                       </h4>
                       <p data-block-key="5csp6" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                        🤖
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         How To Invest In The Future Of Alternative Assets
                        </a>
                        : July 8th
                       </p>
                       <p data-block-key="bopr7" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                        🇺🇸
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         How To Navigate Today’s US Market
                        </a>
                        : July 15th
                       </p>
                       <p data-block-key="6q227" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0;">
                        🚀
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         Modern Investor Summit 2025
                        </a>
                        : December 2nd and 3rd
                       </p>
                      </div>
                     </td>
                    </tr>
                   </tbody>
                  </table>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
             <!--[if mso | IE]></td></tr></table><![endif]-->
            </td>
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        </div>
        <!--[if mso | IE]></td></tr></table></td></tr></table><![endif]-->
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   </div>
   <!--[if mso | IE]></td></tr></table><table align="center" border="0" cellpadding="0" cellspacing="0" class="content-outlook text_promo_8-outlook" role="presentation" style="width:600px;" width="600" ><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;"><![endif]-->
   <div class="content text_promo_8" style="margin:0px auto;max-width:600px;">
    <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
     <tbody>
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       <td style="direction:ltr;font-size:0px;padding:16px 0 0;text-align:center;">
        <!--[if mso | IE]><table role="presentation" border="0" cellpadding="0" cellspacing="0"><tr><td class="" width="600px" ><table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600" bgcolor="#ffffff" ><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;"><![endif]-->
        <div style="background:#ffffff;background-color:#ffffff;margin:0px auto;max-width:600px;">
         <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="background:#ffffff;background-color:#ffffff;width:100%;">
          <tbody>
           <tr>
            <td style="direction:ltr;font-size:0px;padding:32px 16px;padding-top:0;text-align:center;">
             <!--[if mso | IE]><table role="presentation" border="0" cellpadding="0" cellspacing="0"><tr><td class="" style="vertical-align:top;width:568px;" ><![endif]-->
             <div class="mj-column-per-100 mj-outlook-group-fix" style="font-size:0px;text-align:left;direction:ltr;display:inline-block;vertical-align:top;width:100%;">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="vertical-align:top;" width="100%">
               <tbody>
                <tr>
                 <td align="left" style="font-size:0px;padding:0;word-break:break-word;">
                  <div style="font-family:Helvetica, Arial, sans-serif;;font-size:13px;line-height:1;text-align:left;color:#000000;">
                  </div>
                 </td>
                </tr>
                <tr>
                 <td align="left" class="content disclaimer" style="font-size:0px;padding:32px 0 0;word-break:break-word;">
                  <div style="font-family:Helvetica, Arial, sans-serif;;font-size:13px;line-height:1;text-align:left;color:#000000;">
                   <p data-block-key="wvtp3" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    *State Street's Disclaimers:
                   </p>
                   <p data-block-key="4om74" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    <b>
                     Important Risk Information
                    </b>
                   </p>
                   <p data-block-key="emaea" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    Investing involves risk including the risk of loss of principal.
                   </p>
                   <p data-block-key="8bgea" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.
                   </p>
                   <p data-block-key="4ol1s" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA’s express written consent.
                   </p>
                   <p data-block-key="4bbcv" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    All information is from SSGA unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.
                   </p>
                   <p data-block-key="6ov1u" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor.
                   </p>
                   <p data-block-key="1vrve" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    Diversification does not ensure a profit or guarantee against loss.
                   </p>
                   <p data-block-key="1ajec" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    The Fund may invest in companies within the cryptocurrency, digital asset and blockchain industries that use digital asset technologies or provide products or services involved in the operation of the technology. The technology relating to digital assets, including blockchains and cryptocurrency, is new and developing and the risks associated with digital assets may not fully emerge until the technology is widely used. The effectiveness of the Fund’s strategy may be limited given that the operations of companies in the cryptocurrency, digital asset and blockchain industries are expected to be significantly affected by the overall sentiment related to the technology and digital assets, and that the companies’ stock prices and the prices of digital assets could be highly correlated. Certain features of digital asset technologies, such as decentralization, open source protocol, and reliance on peer-to-peer connectivity, may increase the risk of fraud or cyber-attack. Restrictions imposed by governments on digital asset related activities may adversely impact blockchain companies and, in turn, the Fund. Companies within the cryptocurrency, digital asset and blockchain industries may also be impacted by the risks associated with digital asset markets generally.
                   </p>
                   <p data-block-key="fhd0t" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    The Fund may invest in companies that rely on technologies such as the Internet and depend on computer systems to perform business and operational functions, and therefore may be prone to operational and information security risks resulting from cyber-attacks and/or technological malfunctions. Successful cyber-attacks against, or security breakdowns of, a company included in the Fund’s portfolio may result in material adverse consequences for such company, as well as other companies included in the portfolio, and may cause the Fund’s investments to lose value.
                   </p>
                   <p data-block-key="72oe1" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    Concentrated investments in a particular industry tend to be more volatile than the overall market and increases risk that events negatively affecting such industries could reduce returns, potentially causing the value of the Fund’s shares to decrease.
                   </p>
                   <p data-block-key="9uo3m" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    The Fund is actively managed. The sub-adviser’s judgments about the attractiveness, relative value, or potential appreciation of a particular sector, security, commodity or investment strategy may prove to be incorrect, and may cause the Fund to incur losses. There can be no assurance that the sub-adviser’s investment techniques and decisions will produce the desired results.
                   </p>
                   <p data-block-key="96mma" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    The value of certain of the Fund’s investments in cryptocurrency ETFs and ETPs that invest in crypto assets and in publicly traded securities of companies engaged in digital asset-related businesses and activities are subject to fluctuations in the value of the crypto asset, which may be highly volatile. The market for crypto asset futures contracts may be less developed, and potentially less liquid and more volatile, than more established futures markets.
                   </p>
                   <p data-block-key="7jo3s" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    The Fund’s use of options involves speculation and can lead to losses because of adverse movements in the price or value of the underlying stock, index, ETF, ETP or other asset, which may be magnified by certain features of the options. The Fund’s successful use of options depends on the ability of the Adviser to forecast market movements correctly.
                   </p>
                   <p data-block-key="agkgk" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    The trademarks and service marks referenced herein are the property of their respective owners. Third party data providers make no warranties or representations of any kind relating to the accuracy, completeness or timeliness of the data and have no liability for damages of any kind relating to the use of such data.
                   </p>
                   <p data-block-key="90njk" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    <b>
                     Distributor
                    </b>
                    : State Street Global Advisors Funds Distributors, LLC, member
                    <a style="font-weight: 500; font-size: 12px; color: #9FA1A5; text-decoration: underline;">
                     FINRA
                    </a>
                    ,
                    <a style="font-weight: 500; font-size: 12px; color: #9FA1A5; text-decoration: underline;">
                     SIPC
                    </a>
                    , an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. State Street Global Advisors Funds Distributors, LLC is the distributor for certain registered products on behalf of the advisor. SSGA Funds Management has retained Galaxy Digital Capital Management LP as the sub-adviser. State Street Global Advisors Funds Distributors, LLC is not affiliated with Galaxy Digital Capital Management.
                   </p>
                   <p data-block-key="52ao" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    <b>
                     Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 866.787.2257 or visit
                    </b>
                    <a style="font-weight: 500; font-size: 12px; color: #9FA1A5; text-decoration: underline;">
                     <b>
                      ssga.com
                     </b>
                    </a>
                    <b>
                     . Read it carefully.
                    </b>
                   </p>
                   <p data-block-key="49o5p" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    <b>
                     Not FDIC Insured * No Bank Guarantee * May Lose Value
                    </b>
                   </p>
                   <p data-block-key="a9mi" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    © 2025 State Street Corporation - All Rights Reserved.
                   </p>
                   <p data-block-key="bn7vf" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; font-size: 12px; color: #9FA1A5;">
                    AdTrax Code: 7862502.2.2.AM.RTL
                   </p>
                   <p data-block-key="6revb" style="line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0; font-size: 12px; color: #9FA1A5;">
                    Exp Date: 6/30/26
                   </p>
                  </div>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
             <!--[if mso | IE]></td></tr></table><![endif]-->
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <!--[if mso | IE]></td></tr></table></td></tr></table><![endif]-->
       </td>
      </tr>
     </tbody>
    </table>
   </div>
   <!--[if mso | IE]></td></tr></table><table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600" ><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;"><![endif]-->
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        <!--[if mso | IE]><table role="presentation" border="0" cellpadding="0" cellspacing="0"><tr><td class="" width="600px" ><table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600" bgcolor="#ffffff" ><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;"><![endif]-->
        <div style="background:#ffffff;background-color:#ffffff;margin:0px auto;max-width:600px;">
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