US EditionT. Rowe Price files for its first crypto ETF
T. Rowe Price aims to diversify with a first multi-coin active crypto ETF amid mutual fund outflows, targeting 5 to 15 digital currencies, filings show.
- On Wednesday, T. Rowe Price filed an S-1 with the U.S. Securities and Exchange Commission to launch the T. Rowe Price Active Crypto ETF, seeking approval for an actively managed multi-coin fund.
- Facing outflows, T. Rowe Price has been seeking new areas for growth and launched 24 ETFs in recent years, while last month partnering with Goldman Sachs, which will buy up to 3.5 per cent of its shares.
- Fund managers would pick and weight assets using fundamental, valuation and momentum factors, aiming to outperform the FTSE Crypto US Listed Index with five to 15 coins including bitcoin, ether, solana, dogecoin and Shiba Inu.
- A government shutdown has reduced SEC staffing to skeletal levels, and many cryptocurrency ETF applications await approval amid those constraints.
- This first crypto filing marks a shift for the 87-year-old firm as T. Rowe Price enters crypto nearly two years after spot bitcoin ETF approvals, and Bryan Armour, Morningstar analyst, said `This is a firm looking for new niches`.
22 Articles
22 Articles
T. Rowe Price files for its first crypto ETF
T. Rowe Price is seeking regulatory approval to launch an actively managed exchange-traded fund tied to multiple digital currencies, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.It is the first foray into the cryptocurrency space by the $1.77 trillion asset management fi
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Bitcoin InsiderWall Street Behemoth With $1.8 Trillion Under Management Finally Dives Into Crypto
T. Rowe Price, the US asset manager with $1.8 trillion in assets, has filed to launch its first crypto exchange-traded fund, according to regulatory filings and market reports. The filing seeks registration with the US Securities and Exchange Commission for an actively managed product that would give investors exposure to a basket of digital tokens rather than a single coin. Active Fund Aims For Multiple Coins Based on reports, the proposed vehi…
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