Baby eels, known as elvers, are the most valuable fish in the U.S., fetching over $2,000 per pound. Maine is the only state with a significant elver catch and there have been concerns about potential cuts to the strict quota system. However, a regulatory board has proposed a plan to maintain the current quota of less than 10,000 pounds a year indefinitely. The eels are sold to Asian aquaculture companies as seed stock and some are returned to the U.S. as sushi. The state awards elver licenses through a lottery system, with over 4,500 applicants for just 16 licenses this year.