T. Rowe Price Enters Crypto With First Active Multi-Token ETF, Because $2T Doesn't Manage Itself 🧠

T. Rowe Price, the asset manager overseeing nearly $2 trillion in client assets, has launched its first actively managed crypto ETF, with trading beginning on NYSE Arca under the ticker TKNZ. The fund provides spot exposure to Bitcoin, Ethereum, BNB, XRP, Solana, and Hyperliquid, along with the meme tokens Dogecoin and Shiba Inu. The product marks the first U.S. fund to offer spot exposure to SHIB, according to a company press release.

The firm described the T. Rowe Price Active Crypto ETF as "the first actively managed multi-token spot exchange-traded product" available in the marketplace. Bloomberg analyst Eric Balchunas had previously characterized the launch as notable, noting that T. Rowe Price is the largest active manager to enter the crypto space.

The ETF carries a management fee of 0.69%, paired with a net fee waiver that will remain in effect through May 31, 2027, according to the release. The product structure gives the issuer discretion to rebalance holdings across the included digital assets, distinguishing it from passive spot products that track a fixed index.

The debut comes as a growing number of traditional asset managers seek regulated exposure vehicles for digital assets, with T. Rowe Price joining peers that have filed for or introduced spot crypto funds in the United States. The firm has not announced plans for additional crypto products at this time.