T. Rowe Price adds Dogecoin to new crypto ETF
6.9 Investments T. Rowe Price's new crypto ETF includes Dogecoin, aiming for broad market exposure and using memecoins as a blockchain stress test, not just speculation.
T. Rowe Price has introduced the industry's first actively managed multi-token spot crypto ETF (TKNZ), allocating around 60% to bitcoin and ether, with Binance Coin as the third-largest holding. Notably, the fund includes Dogecoin, a memecoin, at a 1.26% weighting. The inclusion of memecoins is part of a disciplined investment strategy, not merely a speculative play on internet trends. Lead portfolio manager Blue Macellari emphasized that mature memecoins with established history and market capitalization should be considered if they show momentum or can enhance portfolio performance. This active management approach allows the fund to evaluate each token on its merits, offering investors broader market exposure. The ETF holds between five and 15 cryptocurrencies, charges a 0.75% fee (waived through May 2027), and benefits from recent SEC listing standards, giving managers flexibility to adjust holdings as the market evolves.
