Trillion-dollar asset manager, T. Rowe Price, surprises analysts by filing for an actively managed crypto exchange-traded fund in the US. The S-1 registration statement for the Active Crypto ETF could disrupt its typical mutual fund offerings. The fund is expected to hold five to 15 cryptocurrencies like BTC, ETH, SOL, and XRP.

President of NovaDius Wealth Management calls the filing “left field,” suggesting traditional asset managers are rushing to enter the crypto market. Bloomberg ETF analyst describes the move as a “SEMI-SHOCK,” noting T. Rowe’s history with mutual funds. The fund aims to outperform the FTSE Crypto US Listed Index with asset weighting based on fundamentals, valuation, and momentum.

T. Rowe’s proposed Active Crypto ETF includes cryptocurrencies like ADA, AVAX, LTC, DOGE, HBAR, BCH, LINK, XLM, and SHIB. This fund differs from single-coin ETF applications awaiting SEC approval. US government shutdown delays approvals for LTC, SOL, XRP ETFs. Economic adviser Kevin Hassett predicts shutdown may end this week.

T. Rowe Price previously showed skepticism towards crypto but didn’t rule out investment entirely. Former CEO William Stromberg acknowledged the early stage of crypto, expecting slow but steady growth. The move towards a crypto ETF marks a significant shift for the asset manager.

Read more at Cointelegraph: Legacy Asset Manager T. Rowe Price Files For Crypto ETF