$1.9 Trillion T. Rowe Price Launches Historic Multi-Token ETF

T. Rowe Price Debuts Multi-Token Crypto ETF on NYSE Arca

T. Rowe Price, the $1.9 trillion asset management giant, launched the Active Crypto ETF (TKNZ) on NYSE Arca on July 16, 2026, marking the industry's first actively managed multi-token spot crypto exchange-traded product. The Baltimore-based firm introduced TKNZ to give investors diversified, professionally managed exposure to leading digital assets, positioning active management as a differentiator in a market long dominated by passive, single-asset crypto funds.

Portfolio Managers Steer New Crypto ETF Strategy

Led by portfolio manager Blue Macellari alongside four co-managers, TKNZ holds between five and fifteen tokens selected through T. Rowe Price's internal research process. The eligible universe includes Bitcoin, Ethereum, BNB, XRP, Solana, and Hyperliquid. The fund carries a 0.75% management fee, waived through May 31, 2027, before reverting to 0.90%. TKNZ becomes the 34th active ETF in T. Rowe Price's lineup and its first venture into digital assets.

The launch signals growing institutional confidence in crypto as an asset class, potentially accelerating adoption among conservative, retirement-focused investors who have historically avoided digital assets.

Analysts expect competitors to follow with their own actively managed multi-token products, intensifying competition beyond the current single-coin ETF landscape.

Tim Coyne, T. Rowe Price's Global Head of Exchange-Traded Funds, said the launch reflects the firm's commitment to applying rigorous research to help clients navigate the digital asset space responsibly.