T. Rowe Price Updates Active Crypto ETF Filing, Approaching Launch
T. Rowe Price has made significant progress in entering the crypto ETF market by submitting a third amendment to its actively managed digital asset fund filing, bringing a potential launch nearer.
Summary
- T. Rowe Price has submitted a third amendment to its active crypto ETF filing, positioning the launch of the ticker $TKNZ closer, pending SEC approval.
- The proposed fund is anticipated to include 5 to 15 digital assets, such as Bitcoin, Ethereum, XRP, and Solana, with active management guiding allocations rather than relying solely on market capitalization.
As per a preliminary prospectus dated April 27, 2026, the Baltimore-based firm intends to list the T. Rowe Price Active Crypto ETF under the ticker TKNZ, noting that the filing remains subject to completion and regulatory approval by the U.S. Securities and Exchange Commission.
Bloomberg ETF analyst Eric Balchunas remarked on the situation, indicating that the filing has gone through a “3rd amendment” with ticker $TOKN and a 75 basis points fee. He added that a launch is “likely very soon” and described T. Rowe Price as “by far the biggest active manager” entering this sector.
TKNZ fund prospectus. Source: Eric Balchunas.
With approximately $1.78 trillion in assets under management, T. Rowe Price has designed the proposed fund as an actively managed product that invests directly in spot crypto assets, avoiding leverage or complex derivatives, as per its SEC filings.
Active structure targets multi-asset exposure
The details in the filing suggest that the ETF will consist of 5 to 15 cryptocurrencies chosen under the SEC’s generic listing criteria, moving away from the single-asset model currently seen in Bitcoin and Ethereum spot ETFs.
Eligible assets listed in the filing include Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Litecoin, Dogecoin, Hedera, Bitcoin Cash, Chainlink, Stellar, and Shiba Inu, with portfolio allocations guided by fundamentals, valuation, and momentum rather than market size alone.
An index snapshot included in the filing shows Bitcoin with a 42.83% allocation, followed by Ethereum at 19.09%, while XRP stands at 10.56% and Solana at 7.93%, with smaller portions allotted to assets like Dogecoin, Cardano, and Avalanche.
Fund managers will likely adjust holdings over time based on market conditions and internal research, aiming to outperform the FTSE Crypto US Listed Index, according to the prospectus.
Filing builds on earlier push into crypto ETFs
An initial S-1 registration filed on October 22, 2025, confirmed the firm’s intent to launch an Active Crypto ETF, marking a shift from its traditional focus on mutual funds.
Nate Geraci, President of NovaDius Wealth Management, stated, “Legacy asset managers are rapidly trying to devise a crypto strategy. Many of these firms missed out on the ETF boom and are keen to avoid repeating that mistake with crypto.”
Regulatory developments have also influenced the timing of the launch, as the SEC recently expedited the approval process for crypto ETFs, while applications related to individual altcoins remain under review.