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T. Rowe Price launches actively managed multi-token spot crypto ETF TKNZ
The NYSE Arca listed fund, TKNZ, allocates 40.7% to Bitcoin and 18.4% to Ethereum, with additional holdings including Solana and XRP.
T. Rowe Price has debuted its first crypto exchange-traded fund, launching an actively managed multi-token spot product that provides exposure to Bitcoin and other digital assets, according to Bitcoin Magazine.
The Active Crypto ETF trades on NYSE Arca under the ticker TKNZ and is described as the first actively managed multi-token spot ETF on the market. T. Rowe Price said the portfolio is mainly weighted to Bitcoin and Ethereum, at 40.7% and 18.4% respectively, and also includes other assets such as Solana, XRP, Hyperliquid, Dogecoin, and BNB.
The firm applied to the U.S. Securities and Exchange Commission for the product last October. In an announcement, Blue Macellari, head of digital assets at T. Rowe Price, said the launch is intended to give investors a professionally managed, curated multi-coin portfolio to reduce the guesswork of building a crypto allocation themselves.
Bitcoin Magazine also noted that T. Rowe Price’s ETF launch follows the SEC’s January 2024 approval of Bitcoin ETFs by other major asset managers, and subsequent approval for Ethereum funds later that year, with more altcoin products now available for U.S. and European investors.
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