First Trust, one of the largest issuers of smart beta exchange traded funds, is trying its hand at blockchain ETFs. The Illinois-based firm became the third issuer to introduce a blockchain fund when the First Trust Indxx Innovative Transaction & Process ETF (NASDAQ: LEGR) debuted on Thursday.

The new ETF tracks the Indxx Blockchain Index. That benchmark follows “companies across the globe that are either actively using, investing in, developing, or have products that are poised to benefit from a new technology known as blockchain. The index seeks to include only companies that have devoted material resources to the use of blockchain technologies,” according to a statement.

Last week, two exchange traded funds designed to be plays on blockchain technology debuted. Those ETFs are the Amplify Transformational Data Sharing ETF (NYSEARCA: BLOK) and the Reality Shares Nasdaq Blockchain Economy ETF (NASDAQ: BLCN).

A blockchain is a decentralized database shared across all users that facilitates the process of recording transactions and tracking assets across a business network. This foundational technology is expected to pave the way for significant disruptions across many industries.

BLOK utilizes an actively-managed approach to investing in the fast developing world of blockchain-based technology, allowing the fund’s portfolio managers to respond in real-time to valuations, company fundamentals and announcements that may impact the blockchain marketplace.

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