Beyond Wallet Balances: Measuring Crypto Wealth in the New Era

Crypto wealth is no longer just about coins in personal wallets.

The rise of ETFs, staking, decentralized finance (DeFi), and tokenized investments has created multiple layers of ownership and exposure.

An investor can now gain economic exposure to crypto without directly holding tokens in a personal wallet.

Wallet balances only provide part of the picture when measuring crypto wealth. Blockchain addresses alone cannot determine an individual's total holdings, as one address may represent hundreds of wallets controlled by a single person.