SEC Approves T. Rowe Price Active Crypto ETF

The U.S. Securities and Exchange Commission on June 12, 2026 approved the T. Rowe Price Active Crypto ETF for listing on NYSE Arca. The order names bitcoin (BTC), ether (ETH) and XRP among the fund’s eligible assets and permits limited operational use of the stablecoin USDC.

The SEC accepted NYSE Arca’s proposed rule change as modified by Amendment No. 2. The fund is organized as a Delaware statutory trust. T. Rowe Price Sponsor LLC will manage the strategy, CSC Delaware Trust Company is trustee, and a sponsor-designated custodian will hold crypto assets and stablecoins. NYSE Arca filed the proposal on Nov. 6, 2025.

The sponsor’s eligible-assets list in the filing includes bitcoin, ether, SOL, XRP, ADA, AVAX, litecoin, DOT, dogecoin, HBAR, bitcoin cash, LINK, XLM, shiba inu and SUI. The ETF normally expects to hold between five and 15 of those assets, though holdings may fall above or below that range. Fund assets may also include cash and cash equivalents.

The SEC specified permitted uses for USDC: it may support expenses, crypto purchases and trading efficiency, but not serve as a primary investment holding or principal portfolio asset.

T. Rowe Price described the fund’s objective as seeking long-term capital growth through investments in crypto assets. The ETF will use the FTSE Crypto US Listed Index as a performance benchmark while keeping an active structure that lets the sponsor select and weight holdings rather than replicate an index. The SEC wrote: “This order approves the proposal.”

The order sets rules on active management, daily portfolio transparency, information sharing between the exchange and broker-dealers, and trading safeguards designed to limit unfair access to trading information. The document addresses operational and market-protection features required for the fund to trade on the exchange.

The SEC noted the generic listing standards adopted in 2025 allow a streamlined path for some commodity-based trust shares, but said this proposal required a separate order because the generic framework does not cover the combination of active management and stablecoin arrangements in the fund.

The order requires the sponsor to source crypto holdings only from its approved list and clarifies custody and permissible uses of USDC. Market participants will watch for the fund’s launch details and the NYSE Arca listing date now that the regulator has issued its approval.