T. Rowe Price Launches First Active Multi-Crypto ETF with Unconventional Portfolio Structure

T. Rowe Price has launched its first active multi-crypto ETF, TKNZ, on NYSE Arca under the ticker TKNZ. The fund is a 1940 Act investment company and is actively managed by T. Rowe Price's research and market outlook.

The portfolio structure of TKNZ breaks down as follows: Bitcoin (BTC) - 40.75%, Ethereum (ETH) - 18.42%, Binance Coin (BNB) - 11.01%, and Solana, Ripple token, Cardano, Avalanche, Dogecoin, Chainlink, Litecoin, Sui, and others range from 1% to 10%

According to Bloomberg Intelligence analyst Eric Balchunas, the portfolio looks 'underweight bitcoin and overweight most other assets', particularly Hyperliquid (HYPE) token which holds a 6.45% allocation.

The fund has an initial management fee of 0.75% through May 2027, rising to 0.9% thereafter. The custodian for the fund is Anchorage Digital Bank, and it will not use staking initially though the prospectus leaves the option open.