T. Rowe Price began trading its TKNZ Active Crypto ETF on Thursday, calling it the industry’s first actively managed multi-token spot crypto fund. The $1.9 trillion manager launched the fund with roughly $15 million in assets, split across bitcoin, ether and six other tokens.
T. Rowe Price entered the crypto exchange-traded fund market today, launching what it calls the industry’s first actively managed multi-token spot crypto ETF nearly nine months after first filing for it. The Baltimore-based manager oversees nearly $1.9 trillion in client assets and has run money for roughly 90 years.
The fund now trades under the ticker TKNZ on NYSE Arca, built to actively balance a portfolio of top cryptocurrencies. Its managers can adjust allocations based on the firm’s research and market outlook data.
How TKNZ is allocated
TKNZ debuted with nearly 41% in bitcoin and 18.4% in ether, alongside positions in BNB, Solana’s SOL, XRP and Hyperliquid’s HYPE, which makes up nearly 6.5% of the portfolio. Smaller stakes cover Stellar Lumen, Dogecoin and USD Coin.
Bloomberg Intelligence senior ETF analyst Eric Balchunas said the initial mix looked underweight bitcoin and overweight most of the rest, especially HYPE. In a post to X, he noted the fund launched with roughly $15 million in assets and a 0.75% management fee.
HYPE runs while bitcoin lags
Although Balchunas sees HYPE as overweight, the token has been one of crypto’s strongest performers during the current bear market. It climbed to an all-time high of roughly $74.50 last month and trades today around $65.60, up about 38% over the past year, while bitcoin has fallen roughly 45% over the same period.
The fund can invest across proof-of-stake networks, but the prospectus states it will not initially stake any holdings to generate yield, though it leaves that option open for later. Blue Macellari, T. Rowe Price’s head of digital assets, is the lead portfolio manager alongside four co-managers.
Source: The Block
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