T. Rowe Price Files for First Active Crypto ETF Targeting Bitcoin, Ethereum, and XRP

T. Rowe Price, one of America’s most established investment firms with over $1.68 trillion in assets under management, has officially entered the cryptocurrency market with its first actively managed crypto exchange-traded fund (ETF). The firm recently filed for the T. Rowe Price Active Crypto ETF with the U.S. Securities and Exchange Commission (SEC), marking its debut in the digital asset investment space.

According to the SEC filing, the ETF aims to outperform the FTSE Crypto U.S. Listed Index, which tracks the ten largest digital assets by market capitalization. The fund will be traded on NYSE Arca and hold between five and fifteen crypto assets at a time, allowing managers to adjust holdings based on market trends and valuations.

Primary holdings will include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP, with the flexibility to add other top cryptocurrencies such as Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), Dogecoin (DOGE), and Chainlink (LINK). Additionally, the ETF can utilize stablecoins like USDC for liquidity and operational management — a feature that enhances its active trading strategy.

This ETF marks T. Rowe Price’s first direct investment product in cryptocurrencies, expanding beyond its traditional stronghold in mutual funds and retirement portfolios. The company’s operations and custody will be managed by T. Rowe Price Sponsor LLC, meaning investors won’t have the same protections offered by mutual funds.

Bloomberg analyst Eric Balchunas described the filing as a “semi-shock,” noting that T. Rowe Price is among the top five active fund managers globally. He added that the move reflects a growing “land rush” among major financial institutions eager to establish their presence in the fast-growing crypto ETF market.