T. Rowe Price crypto ETF blends Dogecoin with 60% bitcoin and ether
Bitcoin and ether showing up in a new crypto exchange-traded fund from a $1.9 trillion asset manager is hardly surprising. Dogecoin sitting right next to them is. When T. Rowe Price rolled out its T. Rowe Price crypto ETF, known by its ticker TKNZ, in July, the presence of an established memecoin inside a fund built by one of the world’s most conservative money managers raised eyebrows across the investment world.
Key takeaways
- T. Rowe Price launched TKNZ, the industry’s first actively managed multi-token spot crypto ETF, in mid-July.
- Dogecoin makes up 1.26% of the fund, while roughly 60% sits in bitcoin and ether, with Binance Coin as the third-largest holding.
- Lead portfolio manager Blue Macellari says memecoin inclusion reflects disciplined active management, not a bet on internet hype.
- The ETF currently holds between five and 15 cryptocurrencies and carries a 0.75% fee, waived temporarily through May 2027.
- SEC generic listing standards finalized last year gave T. Rowe Price the regulatory tools to build a multi-token fund that can expand over time.
T. Rowe Price Launches First Actively Managed Multi-Token Crypto ETF
TKNZ is the first actively managed, multi-token spot crypto ETF to hit the market, giving fund managers discretion to shift holdings across a basket of digital assets rather than simply tracking a fixed index. That distinction matters: most existing crypto ETFs are passive vehicles tied to a single asset, like bitcoin or ether, or built to mirror a market-cap-weighted benchmark. T. Rowe Price’s fund instead lets its team adjust exposure based on research, market conditions and risk management, much like a traditional actively managed equity fund.
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