Can you invest in crypto without investing in crypto?

Can you really invest in cryptocurrency without actually purchasing any cryptocurrency tokens or coins? It seems like a contradiction in terms, as the very nature of investing in crypto is buying and holding digital assets. However, some investors are exploring alternative strategies that may offer exposure to the cryptocurrency market without directly owning crypto. For example, they may invest in companies that are involved in the crypto industry, such as miners, exchanges, or wallet providers. Alternatively, they may use derivatives such as futures or options contracts to speculate on the price of cryptocurrencies. But is this really investing in crypto, or just investing in businesses or financial instruments that are somehow related to crypto? And are these strategies as risky or as profitable as directly investing in cryptocurrency?