T. Rowe Price launches crypto ETF: opportunity or risk for investors?

T. Rowe Price launches crypto ETF: opportunity or risk for investors?

On October 23, 2025, T. Rowe Price ( FXStreet ) announced the filing of an S-1 registration statement with the US Securities and Exchange Commission (SEC). This application aims to introduce an actively managed Exchange Traded Fund (ETF) targeting multiple digital currencies. The move marks a significant expansion for T. Rowe Price into the digital assets space, particularly at a time of slow progress on regulatory processes due to the ongoing U.S. government shutdown.

T. Rowe Price is one of the largest asset managers in the United States, managing over $1.8 trillion in assets. The company entered the ETF market in 2020, so this filing represents an important milestone in entering the crypto sector. Nate Geraci, President of ETF Store, highlights the importance of T. Rowe Price's interest in actively managed crypto ETFs. Eric Balchunas, senior ETF analyst at Bloomberg, notes that there are currently 155 crypto ETP applications covering 35 different digital assets - a number that will potentially exceed 200.

Regulatory delays

The ongoing US government shutdown has delayed the approval of several pending altcoin ETF applications that were originally slated for an October launch. This situation could affect the overall market sentiment in the crypto space. An ETF is a financial instrument that tracks the price of an underlying asset or group of assets. The first Bitcoin futures ETF in the US was approved by the SEC in October 2021, with a total of seven Bitcoin futures ETFs approved and over 20 additional applications pending.

The SEC has previously postponed applications for crypto-related futures ETFs due to concerns about the newness of the cryptocurrency industry and the potential for market manipulation. In January 2024, the SEC approved the listing and trading of several Bitcoin spot ETFs, allowing institutional and mainstream investors to trade Bitcoin.

Advantages and disadvantages of crypto ETFs

The advantages of crypto ETFs include exposure to cryptocurrencies without direct ownership, lower risk and lower costs of storing assets, and a lower learning curve and higher security. On the other hand, there are also disadvantages: the lack of direct ownership of the assets, higher costs through management fees and possible price fluctuations of the underlying cryptocurrency, which can affect the value of the ETF.

Overall, T. Rowe Price's recent filing for an actively managed crypto ETF highlights the increasing interest and commitment of established asset managers in the digital asset space, while reflecting the challenges the market is facing as the regulatory environment changes.