T. Rowe Price Debuts New ETF With Bitcoin And Crypto Exposure

Asset manager T. Rowe Price on Thursday debuted its first crypto exchange-traded fund, giving investors exposure to Bitcoin and other digital coins. 

T. Rowe Price, which with $1.89 trillion in assets is one of the largest U.S. asset managers, said that its Active Crypto ETF is the first actively managed multi-token spot ETF on the market. 

The ETF, which trades on the NYSE Arca under the ticker TKNZ, mainly gives investors exposure to Bitcoin and Ethereum, weighed 40.75% and 18.42%, respectively, but includes other assets like Solana, XRP, Hyperliquid, Dogecoin, and BNB. 

T. Rowe Price applied to the U.S. Securities and Exchange Commission for the product last October. 

“Through the launch of the T. Rowe Price Active Crypto ETF, investors can gain access to a thoughtfully curated, professionally managed multi-coin portfolio that helps eliminate the guesswork of building a crypto allocation on their own,” Blue Macellari, who works as head of digital assets at the firm, said in an announcement.  

The announcement added that the product was the “first of the firm’s lineup” for the digital asset space, hinting that more ETFs could soon follow. 

Writing on X Thursday, Bloomberg Intelligence’s senior research analyst, James Seyffart, said: “Launching during a bear market and I know for a fact this product was years in the making. Legacy asset managers continue to build in the crypto space despite the pullback in prices.”