Another ‘legacy’ asset manager enters the crypto ETF ‘land rush’

T. Rowe Price, a $1.8 trillion asset manager, has made its first crypto play, filing to list a US-listed Active Crypto ETF in a twist that surprised some analysts.

One of the more conservative trillion-dollar asset managers, T. Rowe Price, has surprised analysts after filing to list an actively managed crypto exchange-traded fund in the US.

T. Rowe’s S-1 registration statement to launch an Active Crypto ETF could shake up its largely mutual fund-focused offerings — an asset class that has bled tens of billions of dollars in outflows over the last month.

The filing submitted to the Securities and Exchange Commission on Wednesday states the fund is expected to hold five to 15 cryptocurrencies that are eligible under the SEC’s generic listing standards, which include Bitcoin (BTC), Ether (ETH), Solana (SOL) and XRP (XRP).

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