T. Rowe Price Seeks Active Crypto ETF for Bitcoin, Ethereum, XRP

Key Insights

• T. Rowe Price filed an amendment for its S-1 registration with the SEC for an active crypto ETF.
• The asset manager filed the application in October, and this is the second amendment, showing progress towards launch.
• Bitcoin is at its highest level since early February as crypto ETFs see inflows.

Asset management firm T. Rowe Price has filed Amendment No. 2 to its Active Crypto exchange-traded fund (ETF). The ETF is expected to track several crypto assets, including Bitcoin, Ethereum, XRP, Litecoin, and Solana.

The firm, which has $1.5 trillion assets under management (AUM), filed for a crypto ETF in October 2025. It is the firm’s first foray into the world of digital assets.

T. Rowe Price S-1 Amendment Confirms Commitment to Crypto

It is unclear what the latest amendment to its S-1 filing is all about. However, it highlights progress in the application process. Amendments such as these are usually based on feedback from the Securities and Exchange Commission (SEC).

Interestingly, it also highlights the firm commitment to seeing its application through. This came at the tail end of the crypto bull run. Its first application in late 2025 surprised most market stakeholders. It came two years after the approval of the first US crypto ETFs.

T. Rowe Price ETF Filing | Source: SEC

According to the filing, the actively managed Crypto ETF could have been 5 to 15 cryptocurrencies, according to its prospectus. The actual number will be determined by which of the top cryptocurrencies meet the eligibility standards.

Interestingly, the T. Rowe Price ETF application remains unique, as there are only a few actively managed multi-asset Crypto ETFs. However, it also highlights the asset manager’s efforts to expand its ETF offering beyond bonds and stocks.

Meanwhile, the firm’s ETF application is just one of the many pending crypto ETF filings before the SEC. There are currently over 100 Crypto ETF applications before the regulator, with no clear timeline for regulatory approval.

Bitcoin Reaches Highest Level in Weeks as ETFs See Renewed Inflows

Interestingly, the recent S-1 amendment from T. Rowe Price coincides with signs of recovery in the crypto market. Over the last 24 hours, Bitcoin has gained almost 4%, climbing to $74,000.

The gains today continue a positive performance for the flagship asset, which has risen by more than 8% in the past week. It is now at its highest level since early February, signalling a return of positive sentiments.

Unsurprisingly, Bitcoin’s performance has led to a liftoff for other crypto assets. ETH has gained more than 10% over the last 24 hours, while other major altcoins have also outperformed BTC in that period.

Crypto ETFs have turned around with three straight weeks of inflows. This comes after they struggled for most of the year.

Bitcoin has outperformed Gold since the war in Iran began. BlackRock’s IBIT recorded net inflows, while the largest Gold ETF faced net outflows.

Experts have attributed this to institutional investors turning to Bitcoin as a safe-haven asset amidst the current geopolitical crisis. They noted that these investors see it as a diversifier.

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