T Rowe Price Expands Crypto ETF Filing with Memecoins

T. Rowe Price has made significant amendments to its proposed actively managed crypto ETF, aiming to bring a unique investment product to the market. As part of the filing, the company has expanded its list of eligible digital assets to include memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), alongside more established cryptocurrencies such as Bitcoin (BTC) and Ether (ETH).

The proposed ETF will maintain between five and fifteen crypto positions at any given time, guided by quantitative models that factor in fundamentals, valuation, and market momentum. The fund's benchmark will be the FTSE US Listed Crypto Index.

Custody arrangements for the proposed fund have been addressed directly in the amendment, with Anchorage Digital Bank N.A. serving as the crypto asset custodian. This means Anchorage is responsible for the secure storage of all digital tokens held by the ETF. The filing also notes that share creation and redemption will use a cash model at launch, which could shift to an in-kind model in the future.