TKNZ, the First Multi-Token Actively Managed Spot Crypto ETF, Launches With HYPE Significantly Overweight
Bloomberg ETF analyst Eric Balchunas said T. Rowe Price’s actively managed crypto ETF TKNZ launched today as the first multi-token actively managed spot ETF, with a 0.75% fee and approximately $15 million in initial assets. Its opening portfolio allocates 40.75% to BTC, 18.42% to ETH, 11.01% to BNB, 9.44% to SOL, 9.37% to XRP, 6.45% to HYPE, 3.00% to XLM and 1.28% to DOGE, with USDC and cash accounting for 0.16% and 0.11%, respectively. The fund is underweight BTC and overweight most other tokens, particularly HYPE.
According to Binance market data, BTC fell below the $60,000 level and is currently trading at $59,352.01, down 7.10% on the day, after hitting an intraday low of $59,141.00. ETH is trading at $1,554.97, down 1.79% over the past 24 hours, after touching a low of $1,543.33. Meanwhile, CoinGlass data shows that approximately $462.52 million in crypto derivatives positions were liquidated across the market over the past four hours, including $393.31 million in long liquidations and $69.21 million in short liquidations.