The folks at a publicly traded, $1.8-trillion-AUM* asset manager in Maryland are preparing to roll out their own cryptocurrency-and-digital-assets-focused exchange-traded product. Yet this ETP will be an active one.

Yesterday (March 16), David Oestreicher, general counsel and corporate secretary of T. Rowe Price [profile], and Alan Dupski, vice president and head of fund administration, filed with the SEC to create the T. Rowe Price Active Crypto ETP (TKNZ on the NYSE Arca). T. Rowe Price Group's T. Rowe Price Sponsor LLC will sponsor the planned ETP, with Oestreicher as the sponsor's CEO and Dupski as the sponsor's CFO. (Like the spot crypto ETPs that have launched in the last two years, TKNZ will be registered under the '33 Act. Unlike most ETFs and traditional mutual funds, TKNZ will not be an investment company under the '40 Act.)

The T. Rowe team may still be working out plenty of TKNZ's details and picking out service providers. Yesterday's filing indicates that the ETP will debut sometime in 2026 but includes no specific launch date, nor does it specify the ETP's management fee (aka its expense ratio) or identify the portfolio manager(s). And the filing does not identify which providers will serve the ETP in several key roles, including:

cash custodian;

independent accounting firm;

seed capital investor; and

transfer agent.

(However, the filing does indicate that the seed capital investor will be a T. Rowe affiliate.)

TKNZ will be an actively managed ETP and Delaware statutory trust. The planned ETP's other service providers will include:

Anchorage Digital Bank N.A. as crypto custodian;

CSC Delaware Trust Company, a Corporation Service Company subsidiary, as Delaware trustee;

Dechert LLP as counsel;

T. Rowe Price Associates, Inc. as administrator; and

T. Rowe Price Investment Services, Inc. as distributor.

*As of February 28, 2026. 

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