T. Rowe Price's TKNZ ETF allocates 1.26% to Dogecoin. Head of Digital Assets says memecoin inclusion aligns with active management. TROW Alpha Score 67.
Alpha Score of 64 reflects moderate overall profile with moderate momentum, strong value, strong quality. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
T. Rowe Price launched an actively managed multi-token spot crypto ETF on July 16 that includes a 1.26% allocation to Dogecoin. The fund, trading under the ticker TKNZ, is the first of its kind to reach the market.
Blue Macellari, the firm's head of digital assets, said the decision to include Dogecoin reflects the fund's active management philosophy. Excluding an entire category of assets on principle would contradict the purpose of active management, he argued.
Macellari pointed to Dogecoin's real-world trading volume as a useful data point. When millions of retail traders move into a token simultaneously, it stresses blockchain networks in ways that simulations cannot replicate, he said. The 1.26% allocation is small yet deliberate.
The broader portfolio leans heavily on Bitcoin and Ethereum, which together account for roughly 60% of assets. The fund typically holds between 5 and 15 tokens at any given time. Eligible assets include Binance Coin, Solana, XRP, and others, with Bitcoin and Ethereum as the core holdings.
T. Rowe Price uses a three-layer evaluation process that assesses technology and tokenomics first, then ecosystem adoption and market momentum. Every token must pass all three filters to be included.
The management fee is 0.75%, with a fee waiver in place through May 2027. That gives early investors a chance to evaluate performance without paying the full fee.
The ETF's launch comes as the SEC works on generic listing standards for crypto ETFs. If those standards are finalized, the market could see funds segmented by market cap or sector focus, analysts said. TKNZ occupies a unique position as the first actively managed multi-token product.
Dogecoin's inclusion, even at a small percentage, puts the token inside a product from a firm managing $1.9 trillion. The token was created as a joke in 2013. Thirteen years later, it sits inside a T. Rowe Price ETF.
T. Rowe Price's stock (TROW) carries an Alpha Score of 67, reflecting moderate market sentiment.
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