T. Rowe Price files to launch active multicoin crypto ETF

T. Rowe Price on Wednesday filed an S-1 with the U.S. Securities and Exchange Commission to launch the T. Rowe Price Active Crypto ETF, a move that would mark the Baltimore-based asset manager’s first direct product aimed at tracking crypto price exposure through regulated instruments. The filing, dated October 22, 2025, says the fund will seek active exposure to multiple digital currencies by investing primarily in exchange-traded products and derivatives tied to crypto prices rather than holding coins directly.

The prospectus indicates the fund intends to allocate at least 80 percent of its net assets to instruments whose value derives from crypto prices, including ETPs, swap agreements, futures and options. Managers would target a universe of five to 15 eligible coins, a list that currently ranges from bitcoin and ether to solana, dogecoin and shiba inu, and would use fundamental, valuation and momentum factors to determine portfolio weights. A spokesperson said the managers would seek to outperform the FTSE Crypto US Listed Index.

Analysts described the filing as a sign of growing institutional interest in crypto products. “Total land rush,” said ETF analyst Eric Balchunas,...