Active multi-token ETF captures crypto disruptive tech.
T. Rowe Price launched TKNZ, an actively managed multi-token spot ETF, during the crypto downturn, which is the best time to build. Active management adds alpha in the 24/7 crypto market, and the 75bp fee is competitive compared to altcoin or passive multi-token ETFs. Diversification beyond bitcoin into disruptive technology tokens is warranted because tokenization on public chains will translate to value. Regulatory clarity is improving, supporting the space.