T. Rowe Price's Active Crypto ETF Defies Hype with Memecoin Holdings

T. Rowe Price, a $1.9 trillion asset manager, recently launched its first actively managed multi-token spot crypto exchange-traded fund (ETF), which has surprised investors with its inclusion of memecoins.

The T. Rowe Price Active Crypto ETF (TKNZ) gives managers discretion to adjust holdings across a basket of cryptocurrencies based on research, market conditions, and risk management.

According to Blue Macellari, the head of digital assets and lead portfolio manager for TKNZ, the decision to include memecoins was not about chasing internet hype, but rather about building a complete representation of the crypto market.

The fund currently holds 1.26% in dogecoin (DOGE), with the majority, roughly 60%, invested in bitcoin (BTC) and ether (ETH).