T. Rowe Price has advanced its entry into the crypto ETF market with a further amendment to its actively managed digital asset fund filing, bringing a potential launch closer.
Summary
- T. Rowe Price has advanced its active crypto ETF filing with a third amendment, bringing a potential launch of ticker $TKNZ closer pending SEC approval.
- The proposed fund is expected to hold 5 to 15 digital assets, including Bitcoin, Ethereum, XRP, and Solana, with allocations guided by active management rather than market size.
According to a preliminary prospectus dated April 27, 2026, the Baltimore-based asset manager plans to list the T. Rowe Price Active Crypto ETF under the ticker TKNZ, with the document noting the filing remains subject to completion and regulatory approval from the U.S. Securities and Exchange Commission.
Commenting on the matter, Bloomberg ETF analyst Eric Balchunas said the filing has reached a “3rd amendment,” with ticker $TOKN and a 75bps fee, adding that a launch is “likely very soon” and calling it “by far biggest active manager” entering the space.
TKNZ fund prospectus. Source: Eric Balchunas.
Holding approximately $1.78 trillion in assets under management, T. Rowe Price has structured the proposed fund as an actively managed product that would invest directly in spot crypto assets, while avoiding leverage or complex derivatives, according to its SEC filings.
Active structure targets multi-asset exposure
Details outlined in the filing show the ETF is expected to hold between 5 and 15 cryptocurrencies selected under the SEC’s generic listing standards, moving away from the single asset structure seen in existing Bitcoin and Ethereum spot ETFs.
Eligible assets listed in the filing include Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Litecoin, Dogecoin, Hedera, Bitcoin Cash, Chainlink, Stellar, and Shiba Inu, with portfolio allocations guided by fundamentals, valuation, and momentum rather than market size alone.
An index snapshot included in the filing indicates Bitcoin carries a 42.83% weight, followed by Ethereum at 19.09%, while XRP stands at 10.56% and Solana at 7.93%, with smaller allocations assigned to assets such as Dogecoin, Cardano, and Avalanche.
Fund managers are expected to adjust holdings over time based on market conditions and internal research, with the stated objective of outperforming the FTSE Crypto US Listed Index, according to the prospectus.
Filing builds on earlier push into crypto ETFs
An earlier S-1 registration submitted on Oct. 22, 2025 confirmed the firm’s initial plans to launch an Active Crypto ETF, marking a departure from its long-standing focus on mutual funds.
“Point is that legacy asset managers are quickly trying to figure out how to implement some semblance of a crypto strategy. A number of these firms actually missed out on ETF boom. They want to avoid same mistake w/ crypto,” NovaDius Wealth Management President Nate Geraci said at the time.
Regulatory developments have also played a role in shaping the timing of the launch, as the SEC has recently moved to accelerate the approval process for crypto ETFs, even as applications tied to individual altcoins remain under review.
