The ETF Store President: T. Rowe Price's Application for a Crypto ETF is Significant

ChainCatcher news, Nate Geraci, president of The ETF Store, stated that the traditional asset management giant T. Rowe Price, founded in 1937, unexpectedly submitted an application for an actively managed cryptocurrency ETF.

The company manages approximately $1.8 trillion in assets and only began to venture into the ETF space in 2020. This shift towards the crypto market is seen as a significant signal for the industry. Many traditional financial institutions are rapidly formulating crypto strategies to avoid repeating the mistake of missing out on the ETF boom.