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…