Third, certain investment products in the mainstream financial system are linked in some way to the valuations of cryptoassets. These include derivatives contracts that have been launched on some commodity exchanges and exchange-traded funds. A fourth important point of contact is crypto exchanges, where cryptoassets are traded for money or for other cryptoassets.
Crypto exchanges have been set up in different ways, which makes them hard to classify. Some exchanges have an  8 See Could DLT underpin an entire wholesale payment system?