Although the crypto space has been around for more than a decade, William Stromberg, CEO of mainstream investment management outfit T. Rowe Price, thinks the asset class is still finding its sea legs.
“It’s early days,” Stromberg told the Baltimore Business Journal in an interview when asked if “T. Rowe Price will ever start investing in cryptocurrencies.”
“We have some research going on around it,” the CEO added. “Some companies, just really a handful, have tried to put together products where one can buy and own crypto-related currencies.”
So far, a crypto-free strategy is working for Stromberg. Quarter one of this year was a great one for T. Rowe Price. The firm notched $1.52 trillion in assets under management, and saw its profits rise by over 100%, the Baltimore Business Journal article detailed.
A number of avenues exist for investing directly in cryptocurrencies. A growing number of avenues also exist for exposure to crypto assets via traditional financial products as well, although