"T. Rowe Price to include Dogecoin and Shiba Inu in crypto ETF, expanding exposure to memecoins"
Summary
- T. Rowe Price said it has expanded the scope of memecoin investing by including Dogecoin (DOGE) and Shiba Inu (SHIB) in a new cryptocurrency exchange-traded fund (ETF).
- The Price Active Crypto ETF is set to invest in 5 to 15 assets including Bitcoin (BTC) and Ethereum (ETH), and to conduct periodic rebalancing based on quantitative models.
- The ETF could also include major altcoins such as Avalanche (AVAX), Hedera (HBAR) and Chainlink (LINK), and its holdings may change flexibly depending on market conditions.
Forecast Trend Report by Period
Global asset manager T. Rowe Price (T. Rowe Price) has expanded the scope of its memecoin exposure by including Dogecoin (DOGE) and Shiba Inu (SHIB) in a new cryptocurrency exchange-traded fund (ETF).
According to crypto-focused outlet CryptoProl on the 17th, T. Rowe Price said it plans to include Dogecoin and Shiba Inu in the 'Price Active Crypto ETF (Price Active Crypto ETF).'
The ETF is an actively managed product that invests in major crypto assets such as Bitcoin (BTC) and Ethereum (ETH) alongside a range of altcoins. Under its strategy, it will select 5 to 15 assets to build a portfolio and carry out periodic rebalancing based on quantitative models.
T. Rowe Price, a global asset manager with about $1.8 trillion in assets under management (AUM), said it aims to broaden investors' access to crypto assets through the ETF.
The outlet said the ETF could also include major altcoins such as Avalanche (AVAX), Hedera (HBAR) and Chainlink (LINK), and that its holdings may be adjusted flexibly depending on market conditions.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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