T. Rowe Price Launches Active Multi-Token Crypto ETF
T. Rowe Price (NASDAQ: TROW) has launched the T. Rowe Price Active Crypto ETF (TKNZ), introducing what the firm describes as the first actively managed spot exchange-traded fund providing diversified exposure to multiple cryptocurrency tokens.
The new ETF is designed to invest across a broad universe of digital assets, including bitcoin, ethereum, Binance Coin (BNB), XRP, solana, hyperliquid and other eligible cryptocurrencies. Unlike spot crypto ETFs that track a single digital asset or follow passive investment strategies, TKNZ employs an actively managed approach intended to adjust portfolio holdings based on the firm’s proprietary research and risk management process.
The launch expands T. Rowe Price’s digital asset offerings as institutional and retail investors seek broader exposure to the cryptocurrency market through regulated investment vehicles. By investing across multiple tokens, the fund aims to provide diversified access to the evolving digital asset ecosystem while allowing portfolio managers to respond to changing market conditions and investment opportunities.
TKNZ is managed by Blue Macellan, head of digital assets at T. Rowe Price. Macellan, who has more than 20 years of investment experience in alternative asset management, has led the firm’s digital asset strategy since 2022, overseeing investment initiatives spanning cryptocurrencies, blockchain protocols and exchange-traded funds tied to the digital asset market.
The actively managed strategy differentiates the fund from the growing number of single-asset spot bitcoin and ethereum ETFs that have entered the market over the past two years. Instead of tracking a fixed benchmark, TKNZ gives portfolio management discretion to allocate capital among eligible crypto assets based on research, market conditions and risk considerations.
Shares of T. Rowe Price rose approximately 0.8% in morning trading following the announcement.
Headquartered in Baltimore, T. Rowe Price is a global investment management firm offering mutual funds, exchange-traded funds and advisory services for individual and institutional investors. The launch of TKNZ marks the firm’s latest expansion into digital assets as cryptocurrencies become an increasingly established segment of the broader investment landscape.
