T. Rowe Price has taken another step toward entering the crypto ETF market. A preliminary prospectus dated April 27, 2026 shows the Baltimore-based asset manager intends to list the T. Rowe Price Active Crypto ETF under the ticker TKNZ, though the filing remains subject to completion and approval by the U.S. Securities and Exchange Commission.
Bloomberg ETF analyst Eric Balchunas said the application has now reached a third amendment. He also referenced the ticker as TOKN and a fee of 75 basis points, adding that a launch is “likely very soon” and describing T. Rowe Price as the largest active manager so far to move into this segment.
Actively managed fund would hold a basket of crypto assets
According to the SEC filing, the proposed ETF would be structured as an actively managed product investing directly in spot digital assets, without leverage and without complex derivatives. T. Rowe Price oversees about $1.78 trillion in assets under management, and the new fund would differ from existing spot Bitcoin and Ether ETFs by using a multi-asset approach instead of focusing on a single token.
The filing says the ETF is expected to hold between 5 and 15 cryptocurrencies that meet the SEC’s generic listing standards. Eligible assets include Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Litecoin, Dogecoin, Hedera, Bitcoin Cash, Chainlink, Stellar, and Shiba Inu. Portfolio weights would not be based on market capitalization alone. The manager would use fundamentals, valuation, and momentum in setting allocations.
An index snapshot included in the prospectus shows Bitcoin at 42.83%, Ethereum at 19.09%, XRP at 10.56%, and Solana at 7.93%, with smaller weightings assigned to assets such as Dogecoin, Cardano, and Avalanche. The prospectus adds that managers are expected to adjust holdings over time based on market conditions and internal research, with the stated goal of outperforming the FTSE Crypto US Listed Index.
Latest filing follows the firm’s 2025 push into crypto ETFs
T. Rowe Price had already signaled its plans on Oct. 22, 2025, when it submitted an earlier S-1 registration statement for an Active Crypto ETF. That filing marked a notable shift for a firm long associated with mutual funds.
At the time, NovaDius Wealth Management President Nate Geraci said legacy asset managers were moving quickly to work out a crypto strategy, and that some firms had missed the ETF boom and did not want to make the same mistake with crypto products.
Regulatory timing remains part of the equation. The report says the SEC has recently moved to accelerate the approval process for crypto ETFs, even as applications tied to individual altcoins are still under review. With the third amendment now on file, T. Rowe Price’s active multi-asset crypto ETF appears closer to launch, pending a final regulatory decision.