T. Rowe Price submitted the second amendment to its registration statement for an actively managed cryptocurrency ETF on March 16, 2026. This update formally designates Anchorage Digital Bank N.A. as the fund's crypto custodian, while the core structure and the 15 potential asset classes remain unchanged.
The most significant new information in this update is the explicit identification of Anchorage Digital Bank N.A. as the custodian. The S-1 filing submitted on October 22, 2025, did not disclose a cryptocurrency custodian. Custodial arrangements are a critical component of cryptocurrency ETF applications, as the U.S. Securities and Exchange Commission (SEC) has historically placed a high priority on the security of digital asset custody to mitigate theft and operational risks.
Substantive Changes Between Filings
The March amendment lists 15 eligible crypto assets, including BTC, ETH, SOL, XRP, ADA, AVAX, LTC, DOT, DOGE, HBAR, BCH, LINK, XLM, SHIB, and SUI. This list is identical to the one included in the first amendment filed on February 11, 2026.
Some reports on the March filing have inaccurately described SUI as a new asset. SUI was already incorporated in the February amendment, which expanded the range of eligible assets from an initial 14 to 15. Therefore, the March update did not alter the token composition.
The substantive content of the latest amendment primarily focuses on operational aspects, including custodian disclosures and procedural updates – details typically requested by the SEC before advancing the registration review. Cointelegraph summarized this filing as adding operational details while keeping the proposed fund's core structure intact.
SEC Review Remains Pending
This filing update comes as the SEC continues its review of a separate but related process. On January 28, 2026, the SEC initiated its review of a proposed rule change by NYSE Arca (under Exchange Act Rule 19b-4) to list T. Rowe Price's actively managed crypto ETF. In this proceeding, the SEC cited concerns under Section 6(b)(5) of the Exchange Act, questioning whether actively managed crypto and stablecoin structures adequately protect investors and deter fraud and manipulation. The comment period for this filing closed on February 23, with rebuttals expected by March 9.
The dual-track process of the issuer's S-1 registration and the exchange's listing application means that even a complete S-1 registration does not guarantee the fund's successful listing. The SEC must also approve the rule change for listing.
Why Industry Observers Are Watching Closely
With over $1 trillion in assets under management, T. Rowe Price is among the largest traditional asset managers seeking to launch a multi-asset, actively managed cryptocurrency ETF. Unlike products that simply track Bitcoin or Ethereum, this offering would allow portfolio managers to allocate across up to 15 tokens based on their judgment.
Prominent ETF commentator Nate Geraci did not mince words about the significance of the initial filing: "The importance of T. Rowe Price's sudden filing for an actively managed crypto ETF cannot be overstated."
ETF analyst Bryan Armour offered a more measured perspective: "It's surprising that they, as a relatively...