T. Rowe Price has filed an amended S-1 with the SEC for a Price Active Crypto ETF that would cover multiple digital assets beyond Bitcoin and Ethereum, including SOL, XRP, ADA, AVAX, LTC, DOT, DOGE, HBAR, BCH, LINK, XLM, SHIB, and SUI. The fund would not hold all assets at once; in typical scenarios it aims to own about five to fifteen cryptocurrencies, reflecting an active management approach rather than passive tracking. The strategy centers on a quantitative model that incorporates fundamentals, valuation, and market momentum to rebalance toward an outperforming benchmark such as the FTSE US Listed Crypto Index.
Custody would be handled by Anchorage Digital Bank N.A., and initial share creation and redemption would occur in cash rather than through in-kind transfers. The prospectus leaves room for a future shift to in-kind settlement, depending on market conditions and regulatory guidance. It also notes the potential for staking participation in the future, subject to risk, tax, and regulatory considerations.
This development underscores traditional asset managers’ accelerating push into crypto productization, custody, and liquidity. If approved, investors could access an active, multi-asset crypto strategy via conventional brokerage accounts, potentially broadening participation from both institutional and retail investors.
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