NYSE Arca Eyes Trading New Crypto ETF Shares Soon
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 crypto options on the stock exchange and could open up new ways to invest starting soon. The SEC is reviewing the plan and asking for public feedback before giving the green light.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 0 costs, 1 mixed.
Fund May Stake Crypto and Earn Rewards
The Fund may stake a portion of its crypto assets through trusted staking providers and could receive staking rewards of crypto assets. Those staking rewards may be treated as income to the Fund for tax purposes, and if the Fund has on a daily basis less than 85% of its crypto assets readily available it must maintain written liquidity risk policies to address redemption risk.
Daily NAV, Holdings Disclosure, and Surveillance Rules
The Fund will publish its NAV daily (calculated as of 4:00 p.m. E.T.), disclose its crypto asset holdings on its website before trading each Business Day, and have its intraday trust value (ITV) disseminated every 15 seconds during the NYSE Arca Core Trading Session (normally 9:30 a.m. to 4:00 p.m. E.T.). The Exchange and FINRA will apply existing surveillances and may halt trading if holdings, NAV, or ITV are not disseminated to all market participants at the same time.
New T. Rowe Price Crypto ETF on NYSE Arca
NYSE Arca has filed to list the T. Rowe Price Active Crypto ETF, an actively managed ETF that seeks long-term capital growth by investing in a diversified basket of crypto assets. The Fund expects to hold, under normal circumstances, between five and 15 crypto assets (examples include bitcoin (BTC) and ether (ETH)), but Shares will not trade until the Fund's Form S-1 registration statement is effective.
Fund May Use USDC Stablecoin as Tokenized Cash
The Fund may hold stablecoins as tokenized cash to cover expenses, buy crypto assets, and allow efficient trading; specifically it may hold USDC, a U.S. dollar denominated stablecoin that meets the GENIUS Act definition of a payment stablecoin enacted on July 18, 2025. The Fund views stablecoins like cash equivalents (but not as principal investments) and will continue to hold USDC unless rules under the GENIUS Act no longer permit such holding.
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