Cardano Joins T. Rowe Price's Active Crypto ETF After Initial Snub
Cardano has been added to T. Rowe Price's Active Crypto ETF (TKNZ) after initially being left out of the fund's launch holdings. The asset manager quietly included Cardano alongside major assets like Bitcoin and Ethereum, despite earlier filings suggesting it could support the asset.
The move follows the fund's initial launch in mid-July after the U.S. SEC approved TKNZ in June. At launch, the fund held 10 cryptocurrencies, including Bitcoin, Ethereum, BNB, Solana, XRP, Hyperliquid, Stellar, Dogecoin, USD Coin, and cash equivalents.
Cardano's inclusion is notable because TKNZ has eligibility criteria covering regulatory classification, liquidity, custody, valuation, and an asset's ability to be held and traded within a regulated investment product. ADA currently accounts for only 0.44% of the fund's portfolio weighting, representing approximately $72,500 in Cardano.
T. Rowe Price's move adds to Cardano's growing presence in U.S.-based crypto investment products, with ADA also appearing in several diversified crypto funds and index products. The token has seen a strong performance lately, rallying over 10% yesterday before pulling back slightly.