Key Takeaways
- • T. Rowe Price launched the T. Rowe Price Active Crypto ETF (ticker TKNZ), which began trading today on NYSE Arca and is described by the firm as the industry's first actively managed multi-token spot exchange-traded product.
- • The fund offers diversified exposure to an eligible universe of crypto assets such as Bitcoin, Ethereum, Binance, XRP, Solana, and Hyperliquid, using research-driven, risk-aware active management.
- • TKNZ is managed by Blue Macellari, head of Digital Assets at T. Rowe Price since 2022, with four co-portfolio managers; the net management fee is 0.75% under a fee waiver effective until May 31, 2027, reverting to a 0.90% gross fee on June 1, 2027.
- • The launch brings T. Rowe Price's active exchange-traded lineup to 34 offerings and marks the firm's first product providing access to digital assets.
- • The fund is not registered under the Investment Company Act of 1940 and is not a commodity pool under the Commodity Exchange Act, and the firm flags extreme volatility and regulatory uncertainty as key risks.
Summary
T. Rowe Price, a global asset manager with $1.89 trillion in client assets as of June 30, 2026, announced the addition of the T. Rowe Price Active Crypto ETF (TKNZ), which began trading on NYSE Arca. According to the firm, the fund is the first actively managed multi-token spot exchange-traded product offered in the marketplace. Most competing digital asset exchange-traded products are either focused on a single token or passively managed, whereas TKNZ applies T. Rowe Price's research-driven, risk-aware active approach to capitalize on emerging trends, momentum-driven rallies, and rotations among crypto assets.
The fund is managed by Blue Macellari, who has more than 20 years of investment experience in alternative asset management and has served as head of Digital Assets at T. Rowe Price since 2022. She leads four co-portfolio managers: Stefan Hubrich (21 years of investing experience), David Kroger (9 years), Sean McWilliams (17 years), and Dante Pearson (13 years). The net management fee is 0.75%, reflecting a fee waiver effective until May 31, 2027; the gross fee is scheduled to revert to 0.90% on June 1, 2027.
In the release, Macellari said active management plays a meaningful role given the rapidly evolving and potentially volatile nature of crypto assets, and that the fund gives investors a curated, professionally managed multi-coin portfolio without the need to build a crypto allocation on their own. Tim Coyne, Global Head of Exchange-Traded Funds, described the launch as a natural step for a firm with a legacy of active, research-driven investing. The firm says it has developed its own modular infrastructure to trade digital assets and has partnered with institutional service providers.
TKNZ brings T. Rowe Price's active exchange-traded roster to 34 offerings, spanning equity, multi-asset, and fixed income funds, and is the first in the lineup to provide access to digital assets. The fund is organized as a Delaware statutory trust, with T. Rowe Price Sponsor LLC as sponsor and T. Rowe Price Investment Services, Inc. as distributor. The release notes that the vehicle is not an investment company registered under the Investment Company Act of 1940 and is not a commodity pool, and it stresses that crypto assets have experienced extreme price volatility, limited performance records, and regulatory uncertainty that could significantly affect value.
The fund is managed by Blue Macellari, who has more than 20 years of investment experience in alternative asset management and has served as head of Digital Assets at T. Rowe Price since 2022. She leads four co-portfolio managers: Stefan Hubrich (21 years of investing experience), David Kroger (9 years), Sean McWilliams (17 years), and Dante Pearson (13 years). The net management fee is 0.75%, reflecting a fee waiver effective until May 31, 2027; the gross fee is scheduled to revert to 0.90% on June 1, 2027.
In the release, Macellari said active management plays a meaningful role given the rapidly evolving and potentially volatile nature of crypto assets, and that the fund gives investors a curated, professionally managed multi-coin portfolio without the need to build a crypto allocation on their own. Tim Coyne, Global Head of Exchange-Traded Funds, described the launch as a natural step for a firm with a legacy of active, research-driven investing. The firm says it has developed its own modular infrastructure to trade digital assets and has partnered with institutional service providers.
TKNZ brings T. Rowe Price's active exchange-traded roster to 34 offerings, spanning equity, multi-asset, and fixed income funds, and is the first in the lineup to provide access to digital assets. The fund is organized as a Delaware statutory trust, with T. Rowe Price Sponsor LLC as sponsor and T. Rowe Price Investment Services, Inc. as distributor. The release notes that the vehicle is not an investment company registered under the Investment Company Act of 1940 and is not a commodity pool, and it stresses that crypto assets have experienced extreme price volatility, limited performance records, and regulatory uncertainty that could significantly affect value.
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