Robinhood Explores Stock Token Tied to T. Rowe Price Actively Managed ETF

Robinhood Crypto said in a post on Thursday that it is exploring a Stock Token tied to an actively managed ETF, with T. Rowe Price, on Robinhood Chain. The post cited the asset manager’s $1.9 trillion in assets under management and said the token would be “the first Stock Token of its kind” if the work succeeds.

“Institutions are here, and our rails are ready,” the post said.

The post gave no launch date and no list of regions.

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Robinhood describes Stock Tokens as tokenized debt securities issued by Robinhood Assets (Jersey) Limited. Holders get economic exposure to the underlying security but no legal or beneficial rights in it. The company’s site lists more than 190 of them, tied to US stocks and ETFs such as NVIDIA, Google, Apple and Invesco QQQ.

The tokens are not offered to U.S. persons, and offers are also restricted in Canada, the United Kingdom and Switzerland. Robinhood launched the public mainnet for Robinhood Chain in July, with its tokenized stock products available through Robinhood Wallet in more than 120 countries.

An actively managed ETF lets a portfolio manager decide what the fund holds. An index fund such as Invesco QQQ instead follows the Nasdaq-100. Robinhood’s post did not say which T. Rowe Price fund the token would be linked to.

T. Rowe Price reported $1.90 trillion in client assets at the end of August, matching the figure in Robinhood’s post.

Related Listen: Robinhood’s Tokenized AMC Shares Spark a Fight Over What Stock Tokens Really Are

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