T. Rowe Price Joins the Crypto Buffet: First Active Multi-Token ETF Serves Up BTC, ETH, XRP, HYPE — Hold the SHIB 🥩

T. Rowe Price, the Baltimore-based asset manager overseeing $1.9 trillion in assets, launched what it described as the first actively managed multi-token spot crypto ETF in the United States, with shares trading on the NYSE Arca under the ticker TKNZ. The fund debuted with $15 million in assets under management and provides exposure to a diversified basket of digital assets rather than a single token, departing from the spot $BTC and $ETH products that have dominated the market.

According to a company press release, TKNZ is "the first actively managed multi-token spot exchange-traded product offered in the marketplace." Portfolio managers can adjust allocations based on market conditions, research and risk assessments, with the strategy intended to capture shifts in market leadership as capital rotates among cryptocurrencies. Blue Macellari, T. Rowe Price's head of digital assets, manages the fund alongside four co-managers.

The fund holds Bitcoin (BTC) at 40.75%, Ethereum (ETH) at 18.42%, Binance Coin (BNB) at 11.01%, Solana (SOL) at 9.44%, $XRP at 9.37%, Hyperliquid (HYPE) at 6.45%, Stellar (XLM) at 3.00%, Dogecoin (DOGE) at 1.28%, USD Coin (USDC) at 0.16% and cash equivalents at 0.11%. TKNZ carries a 0.75% net management fee under a temporary waiver through May 31, 2027, after which the fee is scheduled to rise to 0.90%.

Shiba Inu (SHIB), which had been listed as an eligible asset in the fund's initial October 2025 filing, was absent from the launch lineup. T. Rowe Price has not publicly explained the exclusion, though $SHIB has since dropped out of the top 30 cryptocurrencies by market capitalization and was trading at $0.000004132 with a market cap of $2.43 billion at press time. Because the ETF is actively managed, allocations can be revised over time and additional tokens can be introduced, leaving the door open for future additions.

Bloomberg analyst Eric Balchunas had previously characterized the launch as notable because T. Rowe Price is the largest active manager to enter the crypto space. BlackRock, meanwhile, launched a bitcoin income ETF earlier this month designed to generate yield from its spot bitcoin ETF through options strategies, underscoring how issuers continue to expand beyond single-token products as the digital asset market matures.