Bitcoin steadies as SEC reviews T. Rowe Price crypto ETF

Key Takeaways:

• SEC to decide on T. Rowe Price Active Crypto ETF listing.
• Ruling addresses NYSE Arca rule change; trading waits for effective S-1.
• Amended S-1 spans fifteen cryptocurrencies, actively allocated, including Bitcoin and Ethereum.

The U.S. securities regulator is slated to decide this month whether to approve the T. Rowe Price Active Crypto ETF, a proposed NYSE Arca listing. Within the SEC approval timeline, that decision addresses the exchange’s rule-change request rather than final trading status.

Extensions in this process are common and do not imply rejection, as reported by TronWeekly. A denial would halt listing under the current filing, while an approval would still require an effective S-1 before shares can trade.

The amended S-1 identifies a multi-asset scope that includes Bitcoin, Ethereum, XRP, Litecoin, and Shiba Inu among fifteen cryptocurrencies, as reported by U.Today. Allocations would be set by an active mandate rather than a fixed index.

Two approvals must align before launch. The NYSE Arca 19b-4 filing covers the exchange’s rule change to list and trade, while an S-1 registers the fund’s shares and disclosures under the Securities Act.

The 19b-4 review centers on market structure and surveillance at the exchange, whereas the S-1 focuses on issuer-level items such as strategy, custody, and risk factors. If the rule change is approved but the S-1 remains under review, trading cannot begin.

Analysts tracking active, multi-asset crypto funds say competition could intensify if the application progresses. “Semi-shock , did not expect it, but I get it,” said Eric Balchunas, senior ETF analyst at Bloomberg Intelligence.

At the time of this writing, T. Rowe Price Group (Nasdaq: TROW) traded near 105.31, about 0.74% lower than the prior close, based on data from Nasdaq. These figures are contextual and not indicative of any ETF outcome.

For investors, the key variables remain surveillance-sharing, asset-level liquidity, secure custody, and susceptibility to manipulation. Any regulatory decision will turn on these protections rather than near-term price direction.

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