Robinhood Crypto is exploring a new token product in partnership with T. Rowe Price that would be linked to an actively managed ETF rather than a passive index fund. This initiative marks a distinct approach from traditional tokenized equity products by focusing on active management strategies. The company clarified that its existing Stock Tokens are tokenized debt securities issued by a Jersey-based entity and remain unavailable to U.S. persons. The proposed collaboration with T. Rowe Price represents a separate exploration into active ETF-linked tokens, differentiating it from current offerings restricted to non-U.S. markets.