Fund Description: Innovation Shares NextGen Protocol ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Exchange Traded Concepts Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Innovation Shares NextGen Protocol ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Innovation Labs Blockchain Innovators Index. INDEX DESCRIPTION: The Innovation Labs Blockchain Innovators Index is designed to measure the performance of a diversified group of publicly-listed companies that use, or are involved in, blockchain. The Index is constructed using a proprietary algorithmic stock selection methodology that begins with an initial universe of companies that are listed on major stock exchanges of developed and emerging markets countries with a minimum market capitalization of $100 million and a minimum average daily traded value for the last 6 months greater than or equal to $1 million. Shares of common stock, units, tracking stocks, American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) are eligible for inclusion in the Index. Strongly-tied screened companies are grouped into four Stakeholder categories using the NLP algorithm. Companies are ranked within their category based on a score applied using the Methodology. In order to limit overconcentration of the Index in a Stakeholder category, rules are applied in constructing the final Index. FUND STRATEGY: The Fund will normally invest at least 80% of its total assets in securities of the Index. The Fund employs a passive management investment strategy designed to track the performance of the Index. A replication methodology is used, meaning it will invest in all of the securities composing the Index in proportion to their respective weightings in the Index. However, the Sub-Adviser may utilize a sampling methodology under various circumstances, including when it may not be possible or practicable to purchase all of the securities in the Index. The Fund may invest up to 20% of its total assets in investments that are not included in the Index. FUND MANAGEMENT: Exchange Traded Concepts, LLC serves as the investment adviser to the Fund. Penserra Capital Management LLC serves as the sub-adviser to the Fund.