$1.8 trillion Wall Street giant files active multi-coin ETF to challenge BTC dominance

T. Rowe Price, a Wall Street giant managing $1.8 trillion, has filed with the SEC for an active, multi-coin Exchange Traded Fund (ETF). This fund aims to hold a diversified basket of 5 to 15 crypto assets, using a weighting methodology different from standard market capitalization, intending to outperform the FTSE Crypto US Listed Index. This strategy marks a significant departure from passive Bitcoin-only ETFs offered by peers like BlackRock and Fidelity, positioning T. Rowe Price to potentially challenge Bitcoin's dominance by spreading institutional capital across major altcoins like Solana and XRP. The move is seen as an attempt by the firm to restart growth amid outflows from traditional funds and leverages their existing trading infrastructure for custody and execution. If approved, this fund could usher in a third wave of institutional crypto adoption, focusing on actively managed, diversified crypto allocations rather than single-asset exposure.

(Source：CryptoSlate)