TKNZ
T. Rowe Price Active Crypto ETF
stock NYSE ETF

# The 85% Ceiling Shatters: Wall Street's New Blueprint Could Open the Door for Pure BCH ETFs
The launch of the **T. Rowe Price Active Crypto ETF (Ticker: TKNZ)** has fundamentally transformed the digital asset landscape. By securing regulatory approval for the industry’s first actively managed, multi-token spot exchange-traded product, Wall Street has successfully dismantled the unofficial "80–85% rule" that long handcuffed diversified crypto funds.
Historically, any multi-asset filing was bottlenecked by rigid passive indexing regulations. To satisfy strict diversification and liquidity metrics, issuers were practically forced to anchor 80% to 85% or more of a multi-token fund exclusively in Bitcoin and Ethereum.
TKNZ completely rewrites that playbook. Because it relies on human portfolio managers rather than a passive, fixed index, it drops the "Big Two" to a much lower combined baseline, distributing the remaining capital across an active basket of alternative digital assets. This proves that a diversified, active product wrapper can safely coexist with traditional market rails.
# The Blueprint for a Standalone Bitcoin Cash ETF
What makes this a watershed moment is how the fund handles its regulatory boundaries. Instead of fighting a traditional equity battle under the Investment Company Act of 1940, T. Rowe Price organized the fund as a **Delaware Statutory Trust (Commodity ETP)**. Under this framework, the fund is legally bound to a strict, pre-vetted regulatory sandbox: **it can only hold assets from the 15 officially recognized, decentralized commodity cryptos** that clear the strict legal thresholds of the SEC and CFTC as non-securities.
This structural shift completely changes the game for **Bitcoin Cash (BCH)**.
Because BCH shares the same proof-of-work DNA and regulatory classification as Bitcoin, it has long been viewed by legal experts as one of those core, non-security decentralized commodities. However, the regulatory reluctance to approve standalone altcoin products left single-asset expansion stalled.
Now that TKNZ has established an active framework where regulators accept the custody, safety, and pricing of these 15 approved alternative digital commodities inside a public trust, the primary obstacles have disintegrated. By validating a trust-managed structure for this broader universe of non-security tokens, TKNZ has effectively laid down the exact regulatory and operational rails needed to pave the way for pure, standalone Bitcoin Cash (BCH) ETFs next.