The post Ripple News: First-Ever Actively Managed XRP ETF Officially Filed appeared first on Coinpedia Fintech News
Global traditional asset management firm, T. Rowe Price, filed its crypto ETF on Wednesday, becoming the first ever actively managed XRP ETF. The ETF is designed to provide investors with actively managed exposure to a diversified basket of digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP.
T. Rowe Files for Actively Managed XRP ETF
The newly filed ETF called T. Rowe Price Active Crypto ETF can hold between 5 to 15 crypto assets at a time and can adjust holdings based on market conditions and valuations. The company, holding $1.8 trillion in assets, plans to trade the ETF on the NYSE Arca Exchange.
This allows investors to gain exposure without direct ownership of the underlying coin. It aims to outperform the FTSE Crypto US Listed Index, which tracks the top ten US-listed cryptocurrencies that meet SEC standards. The filing comes amid the growing interest in crypto ETFs.
On Wednesday, Bloomberg crypto analyst Eric Balchunas revealed that there are more than 155 ETF applications filed with the US Securities and Exchange Commission (SEC), tracking over 35 different digital assets.
Other assets of T. Rowe Price are:
Cardano (ADA)
Avalanche (AVAX)
Litecoin (LTC)
Dogecoin (DOGE)
Hedera (HBAR)
Bitcoin Cash (BCH)
Chainlink (LINK)
Steller (XLM)
Shibu Ina (SHIB)
Wave of Crypto ETFs After Generic Listing
The crypto industry was already buzzing with ETFs when the SEC approved Generic Listing Standards. This made the ETF applications easier and more time-efficient, which brought dozens of new ETF applications for multiple digital assets. Responding to this, another expert from Bloomberg, James Seyffart, said, “Things are getting wild.”
Now, over 150 crypto ETFs are awaiting the SEC’s approval, which has been delayed due to the US government shutdown. Once the shutdown ends, a lineup of crypto ETF approvals is expected by the agency.