Six months following its application with the Australian Securities Exchange (ASX), BetaShares is now close to launching a new crypto-focused exchange-traded fund (ETF).According to a Wednesday announcement, the official name of the Aussie ETF manager’s new product is BetaShares Crypto Innovators ETF. After relevant regulatory approvals, it would trade under the ticker symbol CRYP on the ASX.As with the similar Bitcoin (BTC) or crypto-focused ETFs, BetaShares’ fund aims to provide a level of crypto exposure to institutional investors looking to invest in cryptocurrencies indirectly.The new fund will track the Bitwise Crypto Industry Innovators Index, which launched in May, as a way to get exposure to the top publicly listed firms operating in the blockchain and crypto industries.The announcement highlights crypto exchange Coinbase, Bitcoin mining company Riot Blockchain and Michael Saylor’s MicroStrategy as current index constituents. A majority of the index (85%) consists of companies that derive at least 75% of their revenue from directly serving crypto markets, such as crypto exchanges, mining companies and service providers.“The crypto economy is highly dynamic and growing rapidly and is built using exciting and disruptive technology,” said BetaShares CEO Alex Vynokur. He added that the new fund would enable exposure to the crypto sector in a familiar, liquid ETF structure.BetaShares submitted its application to the ASX in March. The company didn’t reveal the nature of its fund initially. Vynokur then stressed the significant demand for crypto-focused ETFs, adding that a regulated structure of an ETF is the more appropriate structure for the majority of investors.