T. Rowe Price has launched what it claims to be the first actively managed multi-token spot crypto ETF, providing diversified access to digital assets.
By Helene Braun|Edited by Nikhilesh De Jul 16, 2026, 6:38 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- The new T. Rowe Price TKNZ ETF actively invests in a variety of cryptocurrencies such as bitcoin, ether, BNB, XRP, solana, and Hyperliquid.
- This $1.9 trillion asset management firm is part of a trend where companies are moving beyond single-token crypto products.
- Fund managers have the flexibility to alter their holdings based on market trends rather than adhering to a fixed crypto index.
T. Rowe Price has launched what it claims is the first actively managed multi-token spot crypto exchange-traded fund (ETF), aimed at providing investors with a diverse portfolio of digital assets.
The T. Rowe Price Active Crypto ETF (TKNZ) started trading on Thursday and allows investors to access a range of cryptocurrencies rather than focusing on just one. This launch signifies an important step for the Baltimore-based firm, which manages assets worth $1.9 trillion, as it diversifies its offerings into the realm of digital assets.
In contrast to the spot bitcoin BTC$64,221.07 and ether (ETH) ETFs that have been prevalent in the market recently, TKNZ is structured to maintain a diversified mix of cryptocurrencies, including bitcoin, ether, BNB, XRP, solana (SOL), and Hyperliquid (HYPE), among others.
The TKNZ fund stands out from typical crypto investment products due to its active management approach. Portfolio managers can modify their allocations based on current market dynamics, research insights, and risk evaluations, rather than simply tracking a static index. T. Rowe Price emphasizes that this strategy is aimed at capitalizing on shifts in market leadership and momentum as investment flows change among various cryptocurrencies.
This launch aligns with a broader movement among asset managers who are increasingly introducing diverse digital asset products beyond single-token options. Recently, BlackRock launched a bitcoin income ETF that aims to generate yield from its spot bitcoin ETF using options strategies, showcasing the growing complexity and specialization in crypto investment products as the market evolves.
Actively managed crypto funds may assist investors in navigating a market characterized by significant price fluctuations and swiftly changing trends. However, critics point out that these funds generally come with higher fees and must consistently outperform passive alternatives to validate their expenses.
The TKNZ fund features a 0.75% net management fee, effective until May 2027 due to a temporary waiver, after which the fee is expected to rise to 0.90%.
Blue Macellari, who leads T. Rowe Price's digital assets division, manages the fund alongside four co-portfolio managers. Macellari has been at the forefront of the firm's digital asset strategy since 2022, overseeing research related to cryptocurrencies, blockchain technologies, and crypto investment offerings.
This launch follows extensive preparation over several years, during which T. Rowe Price developed its own digital asset trading infrastructure and collaborated with institutional service providers to facilitate trading and operational support before introducing a crypto product to the market.
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By CoinDesk ResearchJul 13, 2026CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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