Wall Street’s Ancient Mariner Dives Into Crypto Madness! 🚀

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T. Rowe Price, that venerable titan of finance, has toddled up to the Securities and Exchange Commission (SEC) with a proposal that would make even Bitcoin blush-an actively managed crypto ETF. Yes, dear reader, they wish to dabble in digital assets, like a butler attempting breakdancing.

This bold gambit arrives amidst the usual regulatory foot-dragging, proving that even the most staid institutions are now willing to throw their hats-and possibly their dignity-into the crypto ring. ETF filings are multiplying like rabbits at a carrot convention, signaling that Wall Street has finally accepted that crypto isn’t just a fever dream.

T. Rowe Price: From Stodgy to Hodgy

T. Rowe Price, founded in 1937-back when “crypto” meant hiding your gin from Prohibition agents-has decided that managing $1.77 trillion in assets wasn’t enough excitement. So, on October 22, it filed paperwork for the T. Rowe Price Active Crypto ETF, because apparently, passive investing is for cowards.

The proposed ETF will juggle between 5 and 15 digital assets, including such luminaries as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and-because why not-Dogecoin (DOGE) and Shiba Inu (SHIB). Because nothing says “serious investment strategy” like meme coins.

The fund aims to outperform the FTSE Crypto US Listed Index, which is rather like entering a sack race and declaring you’ll outrun Usain Bolt. But optimism is a beautiful thing.

“The Sponsor will employ an active investment strategy that is intended to try to ‘beat’ the Index,” the filing declares, with all the confidence of a man betting his life savings on a three-legged horse.

Nate Geraci, President of NovaDius Wealth Management, observed that firms can no longer simply pretend crypto doesn’t exist-unless they enjoy missing out on both profits and existential dread.

“A firm founded in 1937 is now building out the full infrastructure to handle crypto trading & manage a crypto ETF,” Geraci mused. “Next thing you know, they’ll be hosting raves in the boardroom.”

Eric Balchunas, Bloomberg’s senior ETF analyst, noted that the crypto ETF gold rush is well underway, with firms elbowing each other like shoppers at a Black Friday sale.

“T Rowe Price just filed for an Active Crypto ETF. They are a Top 5 active manager by assets. Did not expect it but I get it,” he tweeted. “There’s gonna be land rush for this space too.”

The SEC’s Crypto Pile-Up: 155 Filings and Counting

Meanwhile, T. Rowe Price’s filing joins a veritable avalanche of crypto ETF applications-155, to be precise-all waiting for the SEC’s blessing like impatient children outside a candy store.

There’s now 155 crypto ETP filings tracking 35 different digital assets. Could easily end up seeing over 200 hit mkt in next 12mo. Total land rush. Here’s the list by coin, amazing work from @JSeyff

– Eric Balchunas (@EricBalchunas) October 21, 2025

Alas, the U.S. government shutdown has pressed pause on approvals, leaving hopeful investors twiddling their thumbs. Polymarket traders currently give a 63% chance that Congress will sort itself out by November 15-though given Congress’s usual efficiency, those odds may be optimistic.

Should the shutdown end, ETF approvals may finally surge forward, unleashing a tidal wave of fresh capital into crypto. Or, alternatively, the SEC may decide to take another decade-long nap. Who knows?

“A resolution that soon would be very bullish for crypto, as ETF approvals are expected to roll out right after the shutdown ends,” Bitcoinsensus posted, with the hopefulness of a man who has bet his mortgage on a Shiba Inu-themed futures contract.

And so, the waiting game continues. Will crypto ETFs finally get their moment in the sun? Or will regulators keep them locked in bureaucratic purgatory? Stay tuned, dear reader-this financial farce is far from over. 🎭

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2025-10-23 09:49