Global asset manager T. Rowe Price has defended its decision to include Dogecoin (CRYPTO: $DOGE) in its newly launched actively managed cryptocurrency exchange-traded fund, framing the allocation as a disciplined investment strategy rather than speculation chasing an internet fad.
The T. Rowe Price Active Crypto ETF (TKNZ), which launched in July as the first actively managed, multi-token spot crypto ETF in the U.S., allocates 1.26% of its portfolio to Dogecoin. Bitcoin (CRYPTO: $BTC) and Ethereum (CRYPTO: $ETH) account for roughly 60% of the fund's assets, followed by Binance Coin (CRYPTO: $BNB).
"We wanted to be truly active managers," Blue Macellari, head of digital assets and lead portfolio manager for TKNZ, said in an interview. "If meme coins are performing well and we exclude them purely on principle, we would be preventing investors from participating in that upside."
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