Blockchains — long heralded as the next chapter of the internet — has come to life over the past two years. The emergence of decentralized finance (DeFi), non-fungible tokens (NFTs), and play-to-earn gaming has created over a $100 billion of on-chain economic activity. Crypto is no longer a bet on the future — the future is already here. For investors, the questions are: how large is this opportunity and what is the easiest way to get exposure? Equity investors can gain easy access to the stock market through ETFs. ETFs provide easy, low cost, and diversified exposure to investment themes such as retail, tech, and healthcare. An investor with no financial expertise can buy an S&P 500 ETF and know that it will dependably track the performance of the US stock market over decades. Crypto investors today have no such option. A few years ago, owning Bitcoin and Ethereum was sufficient. But with the explosion of new blockchains, real economic activity on these chains, and vibrant cross chain traffic, simply holding the two largest coins is no longer a sure thing. For investors seeking broad exposure to crypto, there’s a stronger need than ever for a product that provides diversified exposure across all credible blockchain protocols.