Legacy Asset Manager T. Rowe Price Files For Crypto ETF

T. Rowe Price, a prominent asset manager with $1.8 trillion under management, has taken a surprising step into the crypto space by filing to list an actively managed crypto exchange-traded fund (ETF) in the US. This move comes at a time when the asset class has seen significant outflows, raising eyebrows among analysts who view T. Rowe as one of the more conservative players among trillion-dollar asset managers. The fund is expected to hold between 5 to 15 cryptocurrencies compliant with the SEC's listing standards, including well-known assets like Bitcoin and Ethereum. T. Rowe Price's fund aims to outperform the FTSE Crypto US Listed Index by basing asset weightings on fundamentals, valuation, and momentum rather than solely on market size. The filing reflects a shift in strategy, as the asset manager had previously been cautious about entering the crypto market, acknowledging its potential challenges but now appears eager to capitalize on emerging opportunities within this evolving landscape.

Source 🔗