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…