NYSE Arca proposes to list T. Rowe Price Active Crypto ETF
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This notice says NYSE Arca wants to list and trade shares of the T. Rowe Price Active Crypto ETF. The fund would actively invest in a basket of crypto assets, may use stablecoins, and would be sold and redeemed in blocks through broker-dealers known as authorized participants. For businesses and compliance teams, the practical issue is whether the SEC will allow a crypto ETF that is actively managed and not limited to a passive index product. The filing highlights custody, valuation, surveillance, portfolio disclosure, and trading-halt controls, and the SEC is asking for public comments before deciding whether to approve or reject the listing.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- NYSE Arca is asking permission to list and trade shares of an actively managed crypto ETF.
- The fund would hold a basket of eligible crypto assets and may also hold USDC stablecoins.
- The filing requires daily portfolio and NAV disclosure, custody controls, surveillance, and trading halts if disclosures are not timely.
Obligations
What this law requires
The Fund’s sponsor or related personnel with access to portfolio composition or changes must maintain a firewall between the sponsor and any broker-dealer personnel to prevent access to that information.
The Fund must disseminate its portfolio holdings to all market participants at the same time and must promptly notify NYSE Arca if it fails to do so.
If NYSE Arca becomes aware that the Fund's portfolio holdings are not being disseminated simultaneously to all market participants, the Exchange must halt trading until the holdings are available to all market participants.
The Sponsor must adopt policies and procedures reasonably designed to prevent the misuse and dissemination of material non-public information about the Fund’s portfolio or changes to it.
The Sponsor must maintain a firewall, or erect and maintain one if it becomes or is affiliated with a broker-dealer, between the Sponsor and broker-dealer personnel regarding access to information about the Fund's portfolio composition and changes.