The SEC has approved NYSE Arca’s proposal to list and trade shares of the T. Rowe Price Active Crypto ETF. The June 12 order clears the exchange rule for a fund that holds several eligible digital assets in one vehicle.
The decision applies to the fund in accordance with NYSE Arca Rule 8.201-E, which regulates commodity-based trust shares. It does not confirm the first trading date. That move remains subject to the issuer’s launch process and market timing.
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Crypto ETF Benchmark Allows Active Portfolio Strategy
The crypto ETF aims to deliver long-term capital appreciation through eligible crypto assets selected by the sponsor. It is not designed as a Bitcoin-only or Ethereum-only product. The filing allows the sponsor to manage the exposure on multiple approved digital assets.
The FTSE Crypto US Listed Index will serve as the T. Rowe Price Active Crypto ETF’s benchmark. The SEC order states, however, that the fund will not replicate that index. The sponsor has an active strategy, and the objective is to outperform the benchmark.
In a normal market day, the fund should have a range of eligible assets of 5 to 15. Less than five or more than fifteen holdings at certain times is also permitted in the filing. That structure provides flexibility for the sponsor in response to varying market conditions.
NYSE Arca introduced protections for the fact that the product is actively managed. The order applies to the firewall rules of sponsor staff and sponsor-affiliated broker-dealers. It also states that trading will be suspended if all market participants don’t receive portfolio holdings at the same time.
Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Litecoin, Polkadot, Dogecoin, Chainlink, Stellar, Hedera, Bitcoin Cash, Shiba Inu, and Sui are all on the list of eligible assets. The crypto ETF could also have some stablecoins and cash equivalents and cash for operational purposes.
Crypto ETF Expands Exposure to Altcoins and Meme Coins
The addition of Dogecoin and Shiba Inu expands the product offering beyond many previous U.S. funds. Spot Bitcoin and spot Ethereum products first appeared in the spotlight of most crypto ETFs. This approval introduces a listed route for a big-cap altcoin and some selected meme coins.
The amended filing by T. Rowe Price already included XRP alongside Bitcoin, Ethereum, and Solana in potential holdings. That filing coincided with exchanges and issuers seeking to provide more rapid paths for crypto products under new exchanges’ listing requirements. The SEC order now approves the exchange proposal.
The approval comes as crypto ETF filings continue to increase across the U.S. market. BlackRock submitted a Form 8-A to its iShares Bitcoin Premium Income ETF. The filing brought the income-centric Bitcoin product nearer to a potential Nasdaq listing.
Demand across the sector remains mixed. XRP exchange-traded products saw approximately $10.68 million over the week that ended on June 12. Bitcoin and Ethereum products posted outflows, while U.S. spot Bitcoin ETFs earlier saw 13 straight trading days of net outflows.
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