T. Rowe Price, the $1.8tn asset manager, has moved to introduce an actively managed crypto investment product in a new digital assets push, according to a regulatory filing with the US Securities and Exchange Commission (SEC).
T. Rowe Price Plans First Actively Managed Crypto ETF
23 October 2025 - 14:20 CEST
According to the filing, the fund will be an actively managed exchange-traded product (ETP) seeking to outperform the FTSE Crypto US Listed Index, which tracks the ten largest crypto assets listed on US-regulated venues.
The ETF will be listed on the NYSE Arca exchange and will issue shares representing fractional beneficial interests in a Delaware statutory trust.
TradFi shift
The move represents a strategic shift for T. Rowe Price, a firm historically focused on mutual funds and active equity management.
The Active Crypto ETF will operate as a commodity-based trust rather than a registered investment company, meaning it will not fall under the Investment Company Act of 1940. Instead, it will hold crypto assets directly through a regulated custodian.
The firm said that the product aims to give investors “exposure to a broad set of digital assets within a disciplined, risk-managed framework.”
Institutional adoption
T. Rowe Price’s filing follows similar efforts by asset managers BlackRock, Fidelity, and VanEck. If approved, it would be the first actively managed multi-crypto ETF in the US, potentially accelerating the market’s diversification from Bitcoin-only products.
Given T. Rowe Price’s long-standing reputation in retirement and equity management, the product may serve as a bridge between institutional investors and the expanding regulated digital-asset ecosystem.
