T. Rowe Price has entered the rapidly expanding digital asset ETF market with the launch of the T. Rowe Price Active Crypto ETF (NYSE:TKNZ), claiming the industry’s first actively managed multi-token spot ETF. The ETF began trading on Thursday and seeks to differentiate itself from the growing list of single-token and passive crypto funds through active portfolio management aimed at capturing market rotations and emerging opportunities across digital assets.
The launch also marks a notable move for one of Wall Street’s oldest active managers into crypto investing. Bloomberg ETF analyst Eric Balchunas highlighted that TKNZ debuted with $15 million in assets and starts with a portfolio that is underweight Bitcoin while allocating more heavily to alternative cryptocurrencies, particularly Hyperliquid.
TKNZ Portfolio manager Blue Macellari, said active management is especially valuable in the fast-moving crypto market, allowing the fund to capitalize on momentum shifts while reducing the burden on investors of building and rebalancing their own crypto portfolios.
Key features of TKNZ:
- Opening assets: Approximately $15 million
- Management fee: 0.75% (fee waiver in effect through May 31, 2027)
- Investment approach: Research-driven active management focused on crypto market trends, momentum and sector rotations
Initial portfolio allocation:
- Bitcoin: 40.75%
- Ethereum: 18.42%
- Binance Coin: 11.01%
- Solana: 9.44%
- XRP: 9.37%
- Hyperliquid: 6.45%
- Stellar: 3.00%
- Dogecoin: 1.28%
- USD Coin: 0.16%
- Cash: 0.11%
Photo: Aree S via Shutterstock