TechFlow reported on June 14, citing DigitalToday, that the U.S. Securities and Exchange Commission has approved a rule change application for an actively managed multi-asset cryptocurrency ETF from U.S. asset management giant T. Rowe Price. The approval moves the product one step closer to being listed and traded on the New York Stock Exchange Arca.
An actively managed multi-asset crypto ETF moves forward
The approved filing concerns a proposed ETF structured around multiple crypto assets rather than a single-token product. According to the report, T. Rowe Price is seeking to bring the fund to market through the NYSE Arca listing process, with the latest SEC approval marking progress in that process.
The ETF plans to allocate to between 5 and 15 crypto assets. Its candidate assets include BTC, ETH, SOL, XRP, ADA, AVAX, LTC, DOT, HBAR, BCH, LINK, XLM, SUI, as well as DOGE and SHIB. The reported list covers major crypto assets along with some tokens known for higher volatility.
T. Rowe Price’s first attempt to enter the crypto ETF market
The report noted that this is T. Rowe Price’s first attempt to enter the crypto ETF market. For the U.S. asset management giant, the proposed actively managed multi-asset cryptocurrency ETF represents part of a broader move by traditional asset managers to expand their lineup of crypto asset allocation tools.
The main facts disclosed in the report are the SEC’s approval of the rule change application, the fund’s planned multi-asset structure, and the intention to list and trade the product on NYSE Arca. The report did not provide a specific listing date, final portfolio weights, or fee details for the ETF.