T. Rowe Price, overseeing nearly $1.8 trillion in assets, has filed for an actively managed cryptocurrency ETF, according to Nate Geraci.
The firm only entered the ETF space in 2020, making this filing a notable step toward direct crypto market participation.
The ongoing US government shutdown has delayed approval of several pending altcoin ETF applications that were expected to launch in October.
T. Rowe Price (TROW.O) files for an S-1 registration with the US Securities and Exchange Commission (SEC) to launch an actively managed Exchange Traded Fund (ETF) tied to multiple digital currencies. The move marks a pivotal moment for the firm’s expansion into digital assets, even as regulatory progress slows amid the ongoing US government shutdown.
T. Rowe Price’s first crypto ETF targets multiple digital currencies
Traditional finance continues to edge deeper into the crypto ecosystem as T. Rowe Price, one of the largest asset managers in the US, takes a major step by filing for an actively managed cryptocurrency ETF with the US SEC on Wednesday.
Nate Geraci, president of The ETF Store, noted that traditional asset manager T. Rowe Price, founded in 1937, is interested in actively managed crypto ETFs and said, “Can’t overstate significance.”
Geraci further explained that the firm, overseeing roughly $1.8 trillion in assets, only entered the ETF space in 2020, making this filing a significant milestone in its direct entry into the crypto market.
“Point is that legacy asset managers are quickly trying to figure out how to implement some semblance of a crypto strategy”, said Geraci.
Eric Balchunas, Senior ETF Analyst for Bloomberg, posted on X that “there are now 155 crypto ETP filings tracking 35 different digital assets. Could easily end up seeing over 200.”
However, the current US government shutdown has delayed the approval of several pending altcoin ETF applications, which were expected to launch in October. This delay potentially postpones a key catalyst that could have shifted overall crypto market sentiment.
