Robinhood Crypto is exploring a new tokenized investment product with T. Rowe Price, the asset management firm overseeing around $1.9 trillion in assets. The proposed product would give investors blockchain-based exposure to an actively managed exchange-traded fund (ETF).
Robinhood announced the discussions on October 9. If the plan moves forward, it would be the first Stock Token in Robinhood’s lineup linked to an actively managed ETF, where professional fund managers choose which investments to hold.
However, the product is still under consideration. Neither company has confirmed a launch date or identified the ETF that could back the token.
The proposal involves T. Rowe Price Digital Assets, part of the investment management firm’s digital asset business. Robinhood said the product would require legal reviews, board approval, finalized terms and any necessary regulatory clearances before it could launch.
Robinhood explores actively managed ETF token
The proposed partnership would expand Robinhood’s Stock Token business beyond tokens linked to individual companies and existing investment products.
An index ETF generally tracks a specific market index, while an actively managed ETF allows professional managers to choose investments and adjust the portfolio according to their strategy and market conditions.
A token linked to an actively managed ETF could give eligible investors access to this type of investment through a blockchain-based product.
T. Rowe Price reported approximately $1.9 trillion in assets under management as of August 31, 2026. Its investments cover several areas, including stocks, bonds, multi-asset strategies and alternative investments.
Despite announcing the discussions, the companies have not revealed which ETF could be used, how the token would be priced or what fees investors might pay.
How Robinhood’s Stock Tokens work
Robinhood’s existing Stock Tokens are blockchain-based financial instruments designed to provide exposure to the prices of selected stocks and ETFs.
The current products are structured as tokenized debt securities issued by Robinhood Assets (Jersey) Limited. They do not give holders direct legal ownership of the underlying shares or shareholder voting rights.
The tokens use the ERC-20 standard, allowing them to operate with compatible blockchain wallets and applications. Robinhood also uses Chainlink price feeds to provide on-chain pricing information.
According to Robinhood, its existing Stock Tokens are backed one-for-one by corresponding securities held through a U.S.-based custody partner. However, the company has not confirmed whether the proposed ETF token would use the same structure.
Robinhood launched the public mainnet of Robinhood Chain on July 1, 2026. The network is an Ethereum layer-2 blockchain built using Arbitrum technology and designed to support tokenized financial assets and related applications.
Trading activity involving tokenized stocks has also grown. In August, cumulative trading volume through Uniswap for tokenized stocks on Robinhood Chain reached $1 billion, according to Uniswap founder Hayden Adams.
The proposed T. Rowe Price partnership could expand the range of investment products available through this blockchain infrastructure.
Robinhood’s tokenized stocks have geographic restrictions
Robinhood’s existing Stock Tokens are not currently available to U.S. investors under their present structure. The company offers them to eligible customers in supported international markets, with additional restrictions in certain countries.
Because the tokens are structured as debt securities rather than direct ownership of shares, holders do not automatically receive the same legal rights as traditional shareholders.
Other financial companies are exploring different approaches to tokenized stocks, including structures designed to connect tokens more directly with underlying shares and shareholder rights.
For the proposed T. Rowe Price product, availability would depend on its final legal structure and the rules in each market where Robinhood plans to offer it.
Regulatory approval remains a key hurdle
Robinhood has made clear that the discussions with T. Rowe Price are preliminary and that a launch is not guaranteed.
Before the product could move forward, the companies would need to complete legal reviews, obtain the relevant board approval, finalize the terms and secure regulatory clearances where required.
No launch schedule, initial customer group or final product structure has been announced.
Robinhood is also continuing to develop its wider tokenized securities business, including exploring additional features such as voting rights and in-kind redemptions for certain products. It has not confirmed whether those features would apply to the proposed actively managed ETF token.
For now, the potential partnership represents another step in Robinhood’s efforts to bring traditional investment products onto blockchain networks, but investors will have to wait for further details before knowing exactly how the product would work.
