T. Rowe Price just did something no traditional asset manager has done before. The firm launched the T. Rowe Price Active Crypto ETF, trading under the ticker TKNZ on NYSE Arca, making it the first actively managed multi-token spot crypto exchange-traded product available to US investors.
The fund went live on July 16 with approximately $15 million in initial assets. For a firm managing roughly $1.9 trillion, that’s a rounding error. But the signal it sends is anything but small.
What TKNZ actually does
The fund holds between 5 and 15 tokens at any given time. Its initial portfolio includes Bitcoin, Ether, BNB, XRP, Solana, and Hyperliquid.
That jockey is Blue Macellari, who leads T. Rowe Price’s digital assets team. The “actively managed” part is key here. This isn’t a static index fund that rebalances quarterly and calls it a day. Macellari’s team can dynamically shift allocations based on market conditions, adding or dropping tokens as the landscape evolves.
