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Rowe Price Debuts New ETF With Bitcoin and Crypto Exposure
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Rowe Price has debuted a crypto fund giving investors exposure to Bitcoin and other digital assets.
Key facts
- Rowe Price, which with $1.89 trillion in assets is one of the largest U.S. asset managers, said that its Active Crypto ETF is the first actively managed multi-token spot ETF on the market
- The ETF, which trades on the NYSE Arca under the ticker TKNZ, mainly gives investors exposure to Bitcoin and Ethereum, weighed 40.75% and 18.42%, respectively, but includes other assets like Solana
- In January 2024, the SEC approved Bitcoin ETFs by BlackRock, Fidelity, Grayscale and other asset managers after years of denying applications
- Rowe Price applied to the U.S. Securities and Exchange Commission for the product last October
Summary
Rowe Price on Thursday debuted its first crypto exchange-traded fund, giving investors exposure to Bitcoin and other digital coins. Rowe Price, which with $1.89 trillion in assets is one of the largest U.S. asset managers, said that its Active Crypto ETF is the first actively managed multi-token spot ETF on the market. The ETF, which trades on the NYSE Arca under the ticker TKNZ, mainly gives investors exposure to Bitcoin and Ethereum, weighed 40.75% and 18.42%, respectively, but includes other assets like Solana, XRP, Hyperliquid, Dogecoin, and BNB. Rowe Price applied to the U.S. Securities and Exchange Commission for the product last October.