The VanEck Crypto Leaders ETN is a fully collateralized exchange-traded note offering direct exposure to the foremost and most liquid digital assets. It seeks to emulate the value and yield performance of the MarketVector Crypto Leaders VWAP Close Index. This note strategically invests in the top ten most liquid digital assets, adhering to custodian specifications and exchange regulatory approvals. Critically, it is entirely backed by its underlying native tokens, which are held in secure cold storage by a regulated crypto custodian and come with crypto insurance up to a specified amount. This product is readily tradable on regulated exchanges, much like a traditional ETF.