On October 22, 2025, T. Rowe Price, the $1.77 trillion asset manager founded in 1937, filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch the T. Rowe Price Active Crypto ETF, marking its first venture into cryptocurrency-focused exchange-traded funds, per Coincu. The ETF aims to actively outperform the FTSE Crypto US Listed Index, which tracks the top 10 U.S.-listed cryptocurrencies by market cap, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), per. This filing, amid a government shutdown delaying SEC reviews, underscores a “land rush” for active crypto products, as noted by Bloomberg analyst Eric Balchunas
The proposed ETF will hold 5–15 “eligible” cryptocurrencies, prioritizing BTC and ETH for the largest allocations, with flexibility to adjust based on liquidity and valuation. Eligible assets include BTC, ETH, SOL, XRP, Cardano (ADA), Avalanche (AVAX), Litecoin (LTC), Polkadot (DOT), Dogecoin (DOGE), Hedera (HBAR), Bitcoin Cash (BCH), Chainlink (LINK), Stellar (XLM), and Shiba Inu (SHIB). Unlike passive spot ETFs, this actively managed fund allows strategic shifts to capitalize on market opportunities, reducing reliance on single assets. ETF manager Dominic Rizzo highlighted the ETF’s potential to utilize blockchain technologies for innovation
Bitcoin holds a 59.26% market share with a $2.17T market cap, up 0.62% in 24 hours but down 3.57% over 30 days, with trading volume declining 27.70%, per CoinMarketCap. The filing aligns with a surge in institutional interest, following BlackRock’s IBIT and Fidelity’s entries, and over 90 pending crypto ETF applications, including Solana and mixed-asset funds, per. Nate Geraci of The ETF Store called it a “significant” move for a firm known for mutual funds, per. The SEC’s new listing standards shorten approval timelines, but the shutdown delays decisions, per. X posts from @etfstore highlight T. Rowe Price’s infrastructure for crypto trading as a milestone, per.
The ETF could enhance liquidity and legitimacy for digital assets, drawing parallels to 2023’s Bitcoin ETF approvals that sparked short-term surges, per. With T. Rowe Price overseeing $1.77T in assets, the fund represents a bridge between traditional finance and crypto, potentially unlocking institutional capital. Critics note risks in volatile markets, but supporters see it fostering innovation under clearer rules, per. BTC’s circulating supply (19.94M of 21M) shapes price dynamics as adoption grows, per.
Track filings on sec.gov and ETF flows via SoSoValue. BTC support at $112,000 and resistance at $120,000 are key, per TradingView. Dollar-cost average into BTC or ETH ($4,070) with stop-losses below $112,000, or diversify into USDC, per. Follow @TheBlock__ on X for approvals. Approval could push BTC to $150,000 by 2026, per Techopedia, signaling mainstream integration.
