T. Rowe Price Brings $1.9 Trillion into Crypto with Active ETF

The venerable T. Rowe Price has entered the crypto space with its first fund, approved by the SEC on June 12. The T. Rowe Price Active Crypto ETF will hold a basket of coins, including XRP, Solana, Cardano, Avalanche, Chainlink, and meme coins like Dogecoin and Shiba Inu.

The $1.9 trillion manager's cautious approach to crypto is significant, as it signals that traditional finance now treats the asset class as normal. The fund's managers will actively pick between five and fifteen coins at a time, deciding how much of each to hold based on their own research.

XRP holds a 11.4% weight in the FTSE Crypto US Listed Index, which guides the fund's picks. This means that when T. Rowe Price's clients invest in XRP, they will be buying through a trusted brand and inside accounts they already have.