(Bloomberg) — 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 about $90 billion in client assets. Fidelity Investments’ Bitcoin ETF has about $23 billion. 

President Donald Trump’s support for cryptocurrencies has driven more finance firms to expand in the market. Earlier this month, CME Group Inc. said it will enable round-the-clock trading of cryptocurrency futures and options from early next year.

A spokesperson for T. Rowe said the firm has closely monitored developments in the market and has also developed end-to-end capabilities to trade digital assets. The company didn’t disclose a fee on its new fund, which is subject to regulatory approval.

“This is all about crypto moving onto the traditional rails of asset management,” said Todd Sohn, a senior ETF strategist at Strategas.

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For T. Rowe — which oversees $1.8 trillion — the ETF is another push from the firm to lure in more money after struggling with client redemptions from its actively managed stock and bond funds.

The Baltimore-based firm has also been trying to expand in other asset classes with deals and new products. In 2021, T. Rowe bought private credit firm Oak Hill Advisors. This year, the company partnered with Goldman Sachs Group Inc. to sell private-market products to retail investors.