T. Rowe Price Crypto ETF Hits NYSE Arca Trading Floor
Published Date: 4/29/2026
Notice
Summary
NYSE Arca wants to start trading shares of the new T. Rowe Price Active Crypto ETF, a fund focused on crypto investments. This change affects investors looking for fresh ways to invest in crypto through the stock market. The SEC is reviewing the proposal, and people can comment before a final decision, which could impact trading options and money moves soon.
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Analyzed Economic Effects
6 provisions identified: 4 benefits, 0 costs, 2 mixed.
New T. Rowe Price Crypto ETF Proposed
The NYSE Arca filed to list and trade the T. Rowe Price Active Crypto ETF, an actively managed exchange-traded product that seeks long-term capital growth through crypto assets. The SEC is soliciting comments on the proposal (file number SR-NYSEARCA-2025-77) and comments are due on or before May 20, 2026.
Fund May Stake Crypto Assets
The Sponsor may stake a portion of the Fund's crypto assets through trusted staking providers (not affiliates of the Sponsor) and the Fund would receive staking rewards of crypto assets, which may be treated as income to the Fund for tax purposes. If staking causes the Fund to have less than 85% of its crypto assets readily available on a daily basis, the Fund will maintain written liquidity risk policies that are reviewed at least annually.
Daily NAV and Frequent ITV Transparency
The Fund's NAV will be calculated daily as of the close of trading (normally 4:00 p.m. E.T.) using Reference Rates provided by Lukka, Inc., and the intraday trust value (ITV) will be disseminated every 15 seconds during the NYSE Arca Core Trading Session. The Fund will post its crypto asset holdings on its website before trading each Business Day and the Exchange will halt trading if NAV, ITV, or holdings are not disseminated to all market participants at the same time.
Fund May Hold USDC Stablecoins
The Fund may hold the stablecoin USDC as tokenized cash; USDC is described as a U.S. dollar denominated payment stablecoin that meets the GENIUS Act definition (the GENIUS Act was enacted on July 18, 2025). The Fund intends to use stablecoins to cover certain expenses, buy crypto assets, and allow for efficient trading.
Exchange Surveillance and Firewalls Required
Trading in the Shares will be subject to NYSE Arca and FINRA surveillance and information-sharing via ISG and CSSAs to detect potential fraud or manipulation. The Sponsor must maintain firewalls if it is or becomes affiliated with a broker-dealer, and the Fund is subject to additional firewall and trading-halt-related requirements because it is actively managed.
Fund Concentration: 5–15 Crypto Assets
The Fund is expected, under normal circumstances, to hold between five and 15 Eligible crypto assets (it may hold fewer than five or more than 15 at any time). Eligible Assets are crypto assets the Sponsor determines meet the listing eligibility criteria.
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