Core Viewpoint - T. Rowe Price has applied for a mixed digital asset exchange-traded fund (ETF), marking its entry into the cryptocurrency space as part of a trend among traditional finance firms to offer token-focused products [1][4]. Company Summary - T. Rowe Price, based in Baltimore, manages $1.77 trillion in assets and plans to launch the T. Rowe Price Active Crypto ETF, which will hold between five to fifteen digital assets, potentially including Bitcoin, Ethereum, and various altcoins [2][3]. - The ETF is expected to have the largest weighting in Bitcoin and Ethereum, with the possibility of holding more or fewer assets than initially planned [3]. Industry Summary - The application reflects a broader movement among traditional finance firms to expand digital asset fund offerings in response to increasing investor demand, driven by the success of recently launched spot Bitcoin and Ethereum funds [4]. - The SEC is currently reviewing over 90 applications for crypto-focused ETFs, indicating a growing interest in this market segment [5]. - Recent approvals of Bitcoin ETFs by the SEC have led to significant asset growth, with these funds managing over $150.3 billion, while Ethereum funds control about $23 billion [6].