US investment firm T. Rowe Price, managing $1.77 trillion in assets, has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to launch its first exchange-traded crypto fund. The new product, called the T. Rowe Price Active Crypto ETF, will be actively managed and aims to outperform the FTSE Crypto US Listed Index, which tracks the performance of the ten largest crypto assets traded in the US.

The fund plans to invest in “eligible” cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Litecoin, Polkadot, Dogecoin, HBAR, Bitcoin Cash, Chainlink, Stellar, and Shiba Inu.

NovaDius Wealth Management president Nate Geraci noted on X that the launch of a crypto ETF by a firm founded back in 1937 “shows how traditional investment houses are building infrastructure to operate with digital assets.”

Geraci emphasized that “hoping crypto will disappear is not a viable strategy”, adding that such moves demonstrate how major asset managers are actively looking for ways to integrate crypto investments into their portfolios.

Earlier, the SEC approved new listing standards for crypto ETFs, streamlining the approval process. Since then, dozens of new crypto-related products have entered the market. However, processing of new applications is currently on hold due to the US federal government shutdown, which has limited the agency’s operations. The SEC is expected to resume reviewing crypto ETF filings once the government reopens.