T. Rowe Price Enters Crypto With Actively Managed TKNZ Fund

The fund, which began trading following a July 16 press release, currently allocates roughly 41% of its portfolio to Bitcoin. Ethereum accounts for 18% of the fund’s weight, while BNB holds an 11% share. Beyond these primary assets, the firm maintains exposure to Solana, XRP, Hyperliquid, Dogecoin, Stellar, and the USDC stablecoin. Blue Macellari, who has spearheaded digital asset initiatives at the firm since 2022, serves as the primary portfolio manager, supported by a team of four co-managers.

Bloomberg senior ETF analyst Eric Balchunas characterized the launch timing as calculated, noting that the firm waited for the volatility following an October 2025 market correction to subside before proceeding. The Securities and Exchange Commission granted approval for the fund to list on NYSE Arca in June 2026. While the fund carries a 0.75% management fee, T. Rowe Price has implemented a net fee waiver effective through May 31, 2027.

This strategy relies on a selection pool of 17 pre-approved tokens, providing managers the flexibility to adjust positions using valuation data, momentum signals, and risk controls. By utilizing Anchorage Digital Bank as custodian, the firm seeks to distinguish TKNZ from the crowded field of single-asset crypto ETFs currently available to U.S. investors.