T. Rowe Price's actively managed multi-crypto spot ETF, which launched in July as TKNZ, is using that flexibility to hold Dogecoin alongside its larger bitcoin and ether positions. The fund allocates about 60% of its portfolio to bitcoin and ether and roughly 1.26% to Dogecoin, illustrating how the firm's digital-asset strategy extends beyond the largest cryptocurrencies into selected memecoins. Blue Macellari, Head of Digital Assets at T. Rowe Price, said excluding memecoins solely because they are not viewed as serious would run against the logic of active management. She said crypto assets with sufficient history and market capitalization should be evaluated on factors such as momentum and contribution to portfolio performance, as part of an effort to give investors access to a broader slice of the market rather than a narrow basket of tokens seen as more reputable. Macellari also said memecoin trading acts as a real-world stress test for blockchain networks by exposing whether they can maintain scalability, low fees, fast consensus and reliability during surges in activity. She linked that capacity to the longer-term case for stablecoin adoption, arguing that networks will need to process both very large transfers and small-value payments quickly and cheaply. She also said the crypto ETF market is likely to fragment further into more specialized subcategories.