T. Rowe Price, managing assets worth $1.8 trillion, has taken a surprising step by filing for a US-listed Active Crypto ETF, leaving some analysts astonished. This move indicates a potential shift in the firm’s approach toward cryptocurrencies, following the recent outflows in their mutual fund sector.

The officially submitted registration document to the SEC unveils plans to include between five and fifteen cryptocurrencies, notably Bitcoin, Ether, Solana, and XRP…

Crypto Market

Source: Cointelegraph

“Did not expect it but I get it. There’s gonna be land rush for this space too.” - Nate Geraci

T. Rowe aims to outperform the FTSE Crypto US Listed Index by basing asset weighting on fundamentals and market momentum, distinguishing itself from numerous single-coin ETF proposals waiting for SEC approval, amidst the ongoing US government shutdown.

Kevin Hassett mentioned that the shutdown is likely to end soon, which may facilitate these delayed applications.

In 2021, T. Rowe’s former CEO, William Stromberg, acknowledged the early stages of crypto, suggesting that significant developments might take years.

For related updates, check out this article.