Key Highlights
- T. Rowe Price filed Amendment No. 2 to its S-1 registration with the SEC on March 16, 2026, for its Active Crypto ETF branded under “TKNZ.”
- The fund lists 15 eligible crypto assets: BTC, ETH, SOL, XRP, ADA, AVAX, LTC, DOT, DOGE, HBAR, BCH, LINK, XLM, SHIB, and SUI — with Sui being a new addition.
- Anchorage Digital Bank N.A. has been named the crypto custodian, and the fund has left the door open for staking in the future.
T. Rowe Price, the $1.8 trillion asset management giant primarily known for its traditional mutual funds and retirement products, has moved another step closer to entering the crypto ETF space. On March 16, the firm’s subsidiary, T. Rowe Price Sponsor LLC, filed Amendment No. 2 to its S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for the T. Rowe Price Active Crypto ETF.
The original S-1 was first submitted back in October 2025 and surprised many in the industry, given the firm’s historically conservative focus on traditional investment products across its nearly nine-decade history. This latest amendment keeps the core structure intact but adds several important operational and disclosure updates.
15 eligible crypto assets — SUI added
The updated prospectus lists 15 crypto assets that the fund considers eligible for its portfolio: Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP (XRP), Cardano (ADA), Avalanche (AVAX), Litecoin (LTC), Polkadot (DOT), Dogecoin (DOGE), Hedera (HBAR), Bitcoin Cash (BCH), Chainlink (LINK), Stellar (XLM), Shiba Inu (SHIB), and Sui (SUI).
Notably, Sui is a new addition that was not included in the original October filing. The inclusion of memecoins like Dogecoin and Shiba Inu alongside blue-chip assets like Bitcoin and Ethereum is also a bold signal from a firm of T. Rowe Price’s stature.
Under normal conditions, the fund expects to hold between 5 and 15 assets at any given time. It will not invest in any crypto asset that is classified as a security under federal law.
The prospectus also includes market data from CoinMetrics as of January 4, 2026, showing Bitcoin with a market cap of roughly $1.82 trillion at a price of $91,359, Ethereum at $378.9 billion (at a price of $3,140), and Solana at $75.4 billion (at a price of $133.98), among others.
What changed in Amendment No. 2
Beyond adding Sui to the eligible asset list, the amendment brings several key updates. Anchorage Digital Bank N.A. has been confirmed as the crypto custodian responsible for safeguarding the fund’s digital assets and stablecoins. The filing also expands disclosures around the share creation and redemption process and includes updated risk disclosures related to portfolio turnover and the fund’s active trading strategy.
The amendment also provides updated constituent weights for the FTSE Crypto US Listed Index — the benchmark the fund aims to outperform — as of January 8, 2026. BTC leads the index at 41.87%, followed by ETH at 18.55%, XRP at 11.42%, SOL at 8.66%, DOGE at 4.51%, BCH at 3.69%, ADA at 3.46%, LINK at 2.87%, XLM at 2.57%, and AVAX at 2.37%.
Importantly, the fund is not bound by this index. As an actively managed product, it can hold assets outside the index and assign different weights based on its own research.
Staking on the table
One notable inclusion in the updated filing is a provision around staking. T. Rowe Price stated that the fund may engage in staking — the process where crypto assets are locked up on proof-of-stake networks to help validate transactions in exchange for rewards, in the future, depending on regulatory guidance, tax treatment, and risk considerations.
However, the filing makes it clear that no staking will take place until shareholders are formally notified through a prospectus supplement or periodic report. This comes at a time when staking-enabled ETFs are gaining traction, with BlackRock recently launching its iShares Staked Ethereum Trust (ETHB) on Nasdaq.
USDC as the only stablecoin
Another detail worth noting is that the fund will only hold USDC — the U.S. dollar-denominated stablecoin issued by Circle — as its stablecoin of choice.
The filing ties this decision to the GENIUS Act, enacted on July 18, 2025, which established a regulatory framework for payment stablecoins in the U.S.
Active management in a passive-dominated market
The actively managed approach is what sets this product apart from the broader crypto ETF landscape. While single-asset, passive-tracking products like BlackRock’s IBIT and Fidelity’s FBTC have dominated the market, T. Rowe Price is betting that professional portfolio construction — using fundamental analysis, momentum signals, and quantitative models — can deliver better risk-adjusted returns.
The fund is structured as a Delaware statutory trust and will trade on NYSE Arca. Shares will be issued in creation units of 10,000 and are accessible only through authorized participants. The management fee has not been finalized yet.
This filing adds to a growing wave of multi-asset crypto ETF activity, as Hashdex recently locked in a permanent fee cut for its NCIQ fund and 21Shares launched its first U.S. multi-crypto ETFs under the ’40 Act structure. With institutional inflows into crypto funds exceeding $1 billion weekly, the demand for diversified, professionally managed crypto products is clearly building.
The filing is still pending SEC approval, and no launch date has been announced.
Also Read: Hashdex Cuts Nasdaq CME Crypto Index ETF Fee to 0.25%