T. Rowe Is Aiming to Beat an Index of Investments — in Crypto

T. Rowe Price Group Inc. is planning to launch its first cryptocurrency fund, a bold move for the mutual-fund giant that mostly trades in traditional stocks and bonds.

The actively managed exchange-traded fund would invest in a “diversified basket of commodity crypto assets,” according to a Wednesday filing. T. Rowe’s managers will aim to beat the FTSE Crypto US Listed Index, which is meant to include the top ten crypto assets by market capitalization.

Digital assets have become a major windfall for some of the industry’s largest fund managers, including BlackRock Inc., whose two-year-old spot-Bitcoin ETF now has ...