- T. Rowe Price has updated its prospectus for an actively managed crypto ETF, naming Anchorage Digital Bank as custodian.
- The $1.8 trillion asset manager’s eligible assets include Bitcoin, Ether, Solana, XRP, Avalanche, and Shiba Inu.
- The filing amendment adds new operational details and the digital asset Sui to its list of potential holdings.
T. Rowe Price amended its registration statement with the US Securities and Exchange Commission on Monday, refining plans for an actively managed crypto ETF that invests directly in digital assets. The amendment was submitted to the SEC and updates a prospectus first filed in October.
It lists 15 eligible digital assets for the portfolio, including Bitcoin, Ether, Solana, XRP, Avalanche, and Shiba Inu. The updated filing also adds Sui to that list and names Anchorage Digital Bank as the ETF’s cryptocurrency custodian. Consequently, it expands disclosures around share creation and redemption while maintaining the fund’s core structure.
The proposal surprised some observers given the company’s nearly nine-decade focus on traditional products like mutual funds. NovaDius Wealth Management president Nate Geraci said the original filing came “out of ‘left field'” due to T. Rowe Price‘s recent entry into the ETF market. Meanwhile, the asset manager joins a growing list of traditional financial institutions offering crypto products.
The original filing coincided with Bitcoin’s surge above $120,000 and the turbulent Oct. 10 liquidation event. Since then, digital asset prices have retreated, and crypto ETFs have recorded notable outflows. However, data shows net inflows have flipped positive in recent weeks after a turbulent five months.
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