T. Rowe Price Secures SEC Approval to Launch Crypto ETF Backed by BTC, ETH, and XRP
The U.S. Securities and Exchange Commission (SEC) has approved T. Rowe Price’s new crypto ETF on June 12. The approval allows the fund to be listed on NYSE Arca under rules for commodity-based investment products.
This ETF gives investors access to several cryptocurrencies in one product, not just Bitcoin or Ethereum. According to the filing, the fund is designed for long-term growth by investing in a selection of crypto assets chosen by the fund manager. While the SEC has approved the listing, the official launch and trading schedule will depend on the issuer.
How the ETF works
The T. Rowe Price Active Crypto ETF will use the FTSE Crypto US Listed Index as a benchmark. However, unlike regular ETFs, this fund will be actively managed, meaning it will not simply follow the index. Instead, the manager aims to outperform it.
Under normal market conditions, the ETF will hold around 5 to 15 crypto assets, although the number can change depending on market conditions.
Because it is actively managed, NYSE Arca added extra rules, including restrictions for staff connected to broker-dealers and requirements for transparent portfolio disclosures. Trading can also be paused if information is not shared equally with the market.
Bitcoin, XRP, SHIB included
The ETF can invest in several crypto assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Avalanche (AVAX), Litecoin (LTC), Polkadot (DOT), Dogecoin (DOGE), Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Bitcoin Cash (BCH), Shiba Inu (SHIB), and Sui (SUI).
The fund can also hold cash, stablecoins, and other cash-equivalent assets for operational purposes.
The inclusion of Dogecoin and Shiba Inu makes this ETF broader than many previous crypto ETFs in the U.S., which mostly focused only on spot Bitcoin and spot Ethereum. This product gives investors regulated exposure to major altcoins and meme coins in a single ETF.
Earlier reports showed that T. Rowe Price had already included XRP alongside Bitcoin, Ethereum, and Solana in previous filings, signaling a broader crypto strategy.
Crypto ETF demand still mixed
The approval comes as more crypto ETF applications continue entering the market. Recently, BlackRock also filed paperwork for its iShares Bitcoin Premium Income ETF, bringing it closer to a possible Nasdaq listing.
However, investor demand for crypto ETFs remains mixed. Recent data showed XRP-based investment products recorded inflows of around $10.68 million in the week ending June 12.
Meanwhile, Bitcoin and Ethereum ETF products saw capital outflows. U.S. spot Bitcoin ETFs previously recorded 13 consecutive trading days of net outflows between May 15 and June 3, showing market sentiment remains uncertain.
