T. Rowe Price Takes the Leap: Dogecoin Joins Active Crypto ETF TKNZ

T. Rowe Price, a firm managing $1.9 trillion in assets, has launched an actively managed multi-token spot crypto ETF called TKNZ on July 16. The fund holds a small allocation of 1.26% to Dogecoin, making it the sole memecoin holding.

The company's reasoning for including Dogecoin is that it provides valuable data about blockchain network performance under heavy trading conditions. As Blue Macellari, Head of Digital Assets at T. Rowe Price, put it: 'if you're running an actively managed fund and you refuse to even consider an entire category of assets on principle alone, you're not really doing active management.'

The broader construction of TKNZ reveals a fund that leans heavily on the crypto blue chips, with Bitcoin and Ethereum accounting for roughly 60% of the ETF's assets. The fund typically holds between 5 and 15 tokens at any given time.