T. Rowe Price has filed an amended S-1 registration statement with the SEC for its new Price Active Crypto ETF. The fund is designed to hold a range of digital assets including bitcoin, ether, dogecoin, and shiba inu. T. Rowe Price, a prominent asset manager, oversees $1.8 trillion in assets, highlighting the significance of this move into the crypto market. This ETF filing allows for the fund to possibly diversify its holdings across various cryptocurrency assets.
The Price Active Crypto ETF will hold between five and fifteen crypto assets at any time, and the amended S-1 identifies bitcoin, ether, dogecoin, and shiba inu among potential holdings. The filing indicates the fund may include other digital assets beyond those four named tokens. The portfolio construction will permit diversification across a range of cryptocurrency assets within the five-to-fifteen asset limit.
The fund will be actively managed and the filing states the portfolio will be rebalanced using quantitative models that incorporate fundamentals, valuation, and market momentum. The amended S-1 references the FTSE US Listed Crypto Index as the benchmark. The filing frames rebalancing and active management as the mechanisms for selecting and adjusting the fund’s crypto exposures. These structural and asset-selection features are described in the amended S-1 registration statement.
Anchorage Digital Bank N.A. will serve as the fund’s crypto asset custodian. The amended S-1 states the fund will use a cash subscription and redemption model initially. The filing indicates that in-kind transactions could be added in the future. These subscription and custody arrangements are set out in the amended S-1 registration statement.
The filing also mentions that staking could be pursued in the future depending on risk considerations, tax treatment and regulatory guidance. The filing defines staking as a process used by some blockchains where token holders lock up assets to help secure the network in exchange for rewards. The filing links the possibility of staking to assessments of risks, tax treatment and regulatory guidance. The S-1 frames these operational considerations as contingent on the referenced conditions.
The amended S-1 registration statement contains the operational details summarized above. The filing presents these provisions without further specifics in this section.
The amended S-1 describes the Price Active Crypto ETF as a new actively managed fund that would hold a diversified basket of cryptocurrencies rather than a single token class. The filing states the fund will employ quantitative rebalancing models to adjust its holdings and outlines operational arrangements such as a designated crypto custodian, an initial cash subscription and redemption model, and the possibility of future staking subject to risk, tax and regulatory considerations.
