Why is it called a wrap?

Why is it called a 'wrap'?" This question lingers in my mind as I delve deeper into the intricate world of cryptocurrencies and financial instruments. Surely, there's more than meets the eye in this terminology. Is it perhaps a reference to the way it bundles or encapsulates various assets, akin to wrapping a present? Or could it be a nod to the secure and protective nature of this mechanism, as a wrapper shields its contents from external harm? The term 'wrap' seems to imply a layer of simplicity, yet it hides a complexity that demands exploration. After all, in the realm of finance and crypto, every term is chosen with precision and purpose. I'm eager to unearth the true meaning behind this intriguing nomenclature.