Robinhood and T. Rowe Price Explore Tokenized Actively Managed ETF

Robinhood Crypto said on October 9 that it is exploring a Stock Token tied to an actively managed exchange-traded fund with T. Rowe Price Digital Assets, a move that would mark the brokerage’s first tokenized fund run by professional portfolio managers rather than a passive index. The company disclosed the plan in a post on X, adding that any launch would still require legal review, board approval, finalized terms, and regulatory clearance.

T. Rowe Price, the Baltimore-based asset manager, oversaw roughly $1.9 trillion in client assets at the end of August. Robinhood described the potential product as the first Stock Token of its kind and later clarified that discussions remain preliminary and that no product launch is guaranteed.

How Robinhood Stock Tokens Work

Robinhood’s existing Stock Tokens are tokenized debt securities issued by Robinhood Assets (Jersey) Limited. Holders receive economic exposure to the underlying security but no legal or beneficial ownership rights, and the tokens are not offered to U.S. persons. The company lists more than 190 Stock Tokens tied to U.S. stocks and ETFs, including NVIDIA, Apple, and Invesco QQQ, and the new product would extend that lineup to actively managed funds. Unlike an index ETF, an actively managed fund lets portfolio managers adjust holdings based on their own strategies, which Robinhood framed as a meaningful step beyond the passive exposure most tokenized funds offer today.