Core Viewpoint - Stocks are currently expensive, but this valuation may be justified due to significant capital expenditure in AI, which continues to drive market growth despite a slowing macro economy [1] Group 1: Market Dynamics - AI spending has been a key driver for robust market growth, particularly benefiting major AI hyperscalers like Amazon Web Services (AWS) and Apple (AAPL) [1] - The U.S. stock market fundamentals can remain strong even with modest overall economic growth, as hyperscalers can manage higher borrowing costs due to substantial cash flows [1] Group 2: Investment Metrics - Fundamental metrics such as the S&P 500's forward earnings estimates and return on equity support the investability of the equity landscape [2] - An active ETF, like the T. Rowe Price Equity Research ETF (TSPA), emphasizes fundamental factors in its portfolio construction and has outperformed the S&P 500 over the last three years [3] Group 3: Investment Strategy - Investors may find uncertainty in the stock market, but an active approach that offers flexibility and fundamental research could be a prudent option for navigating high valuations [3]

🗣️ These are the topics seeing the highest rises in discussion across crypto circles Thursday:🇮🇳 Trump announced that India plans to reduce Russian oil imports to nearly zero by year-end, following discussions with PM Modi. This move signals a shift in global energy dynamics amid geopolitical tensions. Meanwhile, Tesla reported a 12% revenue increase but missed EPS estimates, causing stock volatility. Bitcoin remains a hot topic with bullish predictions of $200K by year-end despite potential dips below $100 ...

🚨JUST IN: ASSET MANAGEMENT FIRM, T. ROWE PRICE, MANAGING $1.77T, SEEKS SEC APPROVAL TO LAUNCH ITS FIRST CRYPTO ETF ...

Legacy asset manager T. Rowe Price files for its first crypto ETF https://t.co/QcYSxZe35y ...

Nate Geraci, president of The ETF Store, noted that traditional asset manager T. Rowe Price, founded in 1937, has filed for an actively managed cryptocurrency ETF. The firm, which oversees roughly $1.8 trillion in assets, only entered the ETF space in 2020, making this filing a significant milestone marking its direct entry into the crypto market.https://t.co/cnEr4Eth9u ...

🗞️ Need to catch up on the news? Here's our top 10 from today:🔸 Kalshi is receiving funding offers from VCs at over $10B valuation, just weeks after raising $300M at $5B, per Bloomberg.🔹 Real estate tokenization firm Propy is putting $100M into US expansion, using blockchain and AI to streamline the industry.🔸 Blockchain throughput has surged 100x in five years to over 3,400 transactions per second, rivaling Nasdaq and Stripe at a fraction of the cost.🔹 Bloomberg reports OpenAI is building an “AI banker” ca ...

Today T. Rowe Price filed for an actively managed Crypto ETFThe remaining sidelined players are finally capitulating into crypto, and the pace is acceleratingNate Geraci (@NateGeraci):Can’t overstate significance of T. Rowe Price filing for an actively managed crypto ETF out of left field…T. Rowe is the quintessential legacy asset manager, founded in 1937.They manage some $1.8tril in assets, but just got involved w/ ETFs in 2020.Now moving to crypto. https://t.co/S7XD7GSYxl ...

T. Rowe Price Files for Mixed Crypto ETF With Bitcoin, Ethereum, and Solana Exposure► https://t.co/2BaOF96CBW https://t.co/2BaOF96CBW ...

Core Viewpoint - T. Rowe Price Group Inc. is set to launch its first cryptocurrency fund, marking a significant shift for the firm, which primarily focuses on traditional stocks and bonds [1] Company Developments - The new actively managed exchange-traded fund (ETF) will invest in a diversified basket of commodity crypto assets, aiming to outperform the FTSE Crypto US Listed Index, which includes the top ten crypto assets by market capitalization [1] - T. Rowe Price has developed end-to-end capabilities to trade digital assets and is currently awaiting regulatory approval for the new fund [3] - The firm oversees $1.8 trillion in assets and is seeking to attract more investments following challenges with client redemptions from its actively managed stock and bond funds [3] Industry Context - Digital assets have generated significant revenue for major fund managers, with BlackRock's spot-Bitcoin ETF amassing approximately $90 billion in client assets and Fidelity's Bitcoin ETF holding about $23 billion [2] - The support for cryptocurrencies from influential figures, such as former President Donald Trump, has encouraged more financial firms to enter the cryptocurrency market [2] - CME Group Inc. announced plans to enable round-the-clock trading of cryptocurrency futures and options starting early next year, indicating a growing acceptance of digital assets in traditional finance [2] Strategic Moves - T. Rowe Price has been expanding into other asset classes, including the acquisition of private credit firm Oak Hill Advisors in 2021 and a partnership with Goldman Sachs Group Inc. to offer private-market products to retail investors [4]

Group 1 - T. Rowe Price Group has filed an S-1 registration statement with the U.S. Securities and Exchange Commission to launch its first crypto-focused exchange-traded fund [4]