Asset manager T. Rowe Price, with $1.9 trillion in assets under management, launched the industry's first actively managed multi-token spot crypto ETF on July 16, 2026, trading under the ticker TKNZ on NYSE Arca. The fund holds Bitcoin, Ethereum, Solana, and several other altcoins, signaling growing acceptance of digital assets among traditional Wall Street institutions.
A New Active Approach to Crypto ETFs
Filed in October 2025, the T. Rowe Price Crypto ETF received approval after nearly nine months of review. Unlike passive index-tracking products, TKNZ is actively managed by Blue Macellari, the firm's head of digital assets, who adjusts allocations based on internal research and macroeconomic outlooks. The fund launched with approximately $15 million in assets and charges a 0.75% management fee. While it can invest in proof-of-stake networks, it currently does not stake holdings for yield, though the option remains open for the future.
Portfolio Composition and Analyst Reaction
The initial allocation reveals a tilt toward altcoins: Bitcoin (BTC) at 40.75%, Ethereum (ETH) at 18.42%, Binance Coin (BNB) at 11.01%, Solana (SOL) at 9.44%, XRP at 9.37%, Hyperliquid (HYPE) at 6.45%, Stellar (XLM) at 3.00%, Dogecoin (DOGE) at 1.28%, and a small portion in USDC and cash equivalents. Bloomberg Intelligence senior ETF analyst Eric Balchunas noted the relatively low Bitcoin weighting and the notable 6%+ allocation to Hyperliquid, a token that has recently shown strong performance, indicating the manager's bullish stance on emerging sectors.