T. Rowe Price Lists XRP in Crypto ETF Filing
Asset manager T. Rowe Price, with $1.8T in AUM, has listed XRP as an eligible core asset alongside Bitcoin and Ethereum in its new Active Crypto ETF filing with the SEC. The move is seen as a potential signal for broader institutional adoption of altcoins through regulated products. The deadline for an SEC decision on the filing is February 26.
- The initial S-1 prospectus for the T. Rowe Price Active Crypto ETF was first filed in October 2025, with the NYSE Arca's 19b-4 application to list the fund being published in the Federal Register on November 28, 2025. - This is an actively managed fund, meaning its strategy is to outperform the FTSE Crypto US Listed Index by adjusting holdings based on fundamentals, valuation, and momentum, rather than passively tracking an index. - The filing lists a broad range of 5-15 eligible crypto assets beyond BTC and ETH, including Cardano (ADA), Solana (SOL), Avalanche (AVAX), Chainlink (LINK), Dogecoin (DOGE), and Shiba Inu (SHIB). - The SEC extended its review period, setting the final deadline for a decision to approve, reject, or delay the proposal for February 26, 2026. - The move was described by Bloomberg ETF analyst Eric Balchunas as a "semi-shock," signaling that traditional asset managers who were slower to enter the spot Bitcoin ETF race are now competing for a foothold in broader digital asset products. - The proposed fund would be structured as a commodity-based trust, trading on NYSE Arca under Rule 8.201-E, a classification for non-generic commodity-based trust shares. - This filing follows a broader market trend of increasing institutional interest in altcoins, evidenced by spot Ether ETFs attracting $9.6 billion in Q3 2025, surpassing Bitcoin ETF inflows of $8.7 billion for the same period. - While a significant development for a U.S. asset manager, there are currently five other global issuers with XRP-dedicated ETFs, which collectively hold over $1 billion in assets.
