First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT) Stock Price, Quote, News & History | Benzinga

The Fund will invest at least 80% of its net assets (plus any investment borrowings) in the common stocks and American Depositary Receipts (ADRs) of Crypto Industry Companies and Digital Economy Companies. Under normal market conditions, the Fund will invest at least 50% of its net assets (plus any investment borrowings) in Crypto Industry Companies. The remainder of the Funds net assets used to satisfy the 80% test set forth above will be invested in Digital Economy Companies.1. Crypto Industry Companies are those companies that (i) derive at least 50% of their revenue or profits directly from goods produced or sold, investments made, or services performed in the crypto industry ecosystem (defined below); and/or (ii) have at least 50% of their net assets accounted for by direct holdings of bitcoin, ether or another cryptocurrency (collectively, crypto assets). The Funds investment sub-adviser, SkyBridge Capital II, LLC (SkyBridge or the Sub-Advisor), defines crypto industry ecosystem to be those companies involved in servicing the crypto asset markets, including crypto asset mining firms, crypto mining equipment suppliers, crypto asset trading and asset management companies and companies directly holding crypto assets on their balance sheets.2.Digital Economy Companies are those companies that derive at least 50% of their revenue or profits directly from goods produced or sold, investments made, or services performed in the digital economy ecosystem (defined below). The Sub-Advisor defines digital economy ecosystem to be those companies: (i) operating as digital banks with no physical branches, or, operating as banks with physical branches that nonetheless derive the requisite 50% profits or revenues from digital banking; (ii) operating online brokerage or trading platforms and/or conducting digital market making; (iii) operating digital payment gateways or (iv) manufacturing semiconductors. For the avoidance of doubt, companies deemed to be Crypto Industry Companies will not be considered Digital Economy Companies.