T. Rowe Price files first virtual asset ETF application…"Surprising entry by an 87-year-old traditional asset manager"
Summary
- T. Rowe Price is pushing to enter the virtual asset ETF market for the first time.
- Nate Geraci, chairman of NobadiusWells, said T. Rowe Price registered an actively managed cryptocurrency ETF with the U.S. SEC.
- T. Rowe Price is a representative traditional asset manager with approximately $1.8 trillion in assets under management, and this market entry is drawing attention.
T. Rowe Price, a traditional asset manager with 87 years of history, is drawing industry attention as it pushes to enter the virtual asset (cryptocurrency) exchange-traded fund (ETF) market for the first time.
On the 23rd (local time), Nate Geraci, chairman of NobadiusWells, said on X, "T. Rowe Price has newly registered an actively managed cryptocurrency ETF with the U.S. Securities and Exchange Commission (SEC). This filing is a move that completely defies market expectations and carries very significant meaning."
He added, "T. Rowe Price, founded in 1937, is a representative legacy asset manager with total assets under management (AUM) of approximately $1.8 trillion (about 2,500 trillion won). The company only entered the ETF business in 2020 and, in just five years, is turning its attention to the virtual asset ETF market."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)