T. Rowe Price Dives into Crypto with First Actively Managed Multi-Asset ETF

T. Rowe Price, an investment powerhouse managing $1.9 trillion in client portfolios, has entered the cryptocurrency exchange-traded fund (ETF) space with its first actively managed multi-asset digital currency ETF, TKNZ.

The new ETF began trading on NYSE Arca after a nearly nine-month approval process, which started when the company submitted its initial application in October 2025. The fund opened with roughly $15 million in starting capital.

TKNZ's portfolio composition features Bitcoin as the largest holding at 40.75%, while Hyperliquid comprises 6.45%. This is distinct from single-asset offerings, providing exposure through a diversified cryptocurrency portfolio.

The active management framework allows fund managers to rebalance holdings according to evolving market dynamics, proprietary analysis, and risk evaluation rather than adhering to a predetermined index structure. According to T. Rowe Price, this methodology aims to capitalize on shifting momentum patterns as capital flows between various digital assets throughout market cycles.