The U.S. Securities and Exchange Commission has approved NYSE Arca’s rule change to list and trade shares of the T. Rowe Price Active Crypto ETF, giving one of Wall Street’s largest active ma
The U.S. Securities and Exchange Commission has approved NYSE Arca’s rule change to list and trade shares of the T. Rowe Price Active Crypto ETF, giving one of Wall Street’s largest active managers a cleared exchange-listing route for a diversified crypto product.
The June 12 order covers the fund under NYSE Arca Rule 8.201-E for generic commodity-based trust shares. NYSE Arca originally filed the proposal on November 6, 2025, before later amendments tightened the fund structure, stablecoin language, custody framework, trading disclosures and portfolio-transparency requirements.
The fund is designed as an actively managed exchange-traded product seeking long-term capital growth through crypto assets. Unlike a passive index ETF, it will not simply copy the FTSE Crypto US Listed Index. The portfolio can hold a basket of eligible assets and adjust exposure through a model-based process using fundamentals, valuation, momentum and risk controls.
Under normal market conditions, the ETF is expected to hold between five and 15 eligible crypto assets. The approved eligible universe includes Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Litecoin, Polkadot, Dogecoin, HBAR, Bitcoin Cash, Chainlink, Stellar, Shiba Inu and Sui.
The FTSE Crypto US Listed Index remains the benchmark the fund will try to outperform. A January 8 benchmark snapshot in the registration statement placed Bitcoin at 41.87%, Ethereum at 18.55%, XRP at 11.42% and Solana at 8.66%. A later March 31 snapshot kept the same order, with Bitcoin at 42.83%, Ethereum at 19.09%, XRP at 10.56% and Solana at 7.93%.
That makes XRP’s position one of the more notable parts of the approval. XRP is not only listed among eligible assets. It also sits above Solana in the benchmark snapshots used in the fund materials, reinforcing the asset’s growing place in regulated crypto allocation products.
The approval follows earlier market attention around XRP’s role in the same SEC proposal, where Bitcoin, Ethereum, Solana and XRP were already highlighted as assets that could qualify under the listing framework.
XRP’s institutional story has also been building through ETF demand and public-market positioning. Recent XRP ETF demand held up even as whale activity created pressure, while Goldman Sachs’ Q1 filing showed a more selective crypto rotation after it exited XRP and Solana ETF positions.
The fund’s crypto assets and stablecoins will be held by Anchorage Digital Bank N.A., while State Street Bank and Trust Company handles cash and transfer-agent functions. The structure gives the product a regulated custody layer while allowing the sponsor to trade eligible crypto assets across U.S. and non-U.S. platforms.
USDC can be used as tokenized cash for expenses, asset purchases and efficient trading, but not as a principal investment. The fund may also use staking in the future if additional risk, tax and regulatory disclosures are provided first.
The timing lands during a choppy ETF-flow environment. U.S. Bitcoin and Ethereum funds have recently faced heavy redemptions, while newer altcoin products have still drawn selective interest. Spot Bitcoin ETFs saw major outflows in late May, yet the broader market continues to expand beyond single-asset BTC and ETH wrappers.
For T. Rowe Price, the approval opens a new route into crypto without forcing investors to choose only one token. For the market, it pushes regulated crypto exposure further into active allocation, daily portfolio disclosure, custody controls and multi-asset selection. The next practical step is launch execution: ticker, effective registration, seed capital, live holdings, first-day liquidity and whether advisers treat a 5-to-15-asset crypto ETF as a serious portfolio tool rather than another narrow crypto trade.
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