The US Securities and Exchange Commission has approved a rule change for T. Rowe Price‘s actively managed crypto ETF, allowing the fund to hold up to 15 digital assets. The approved portfolio includes major cryptocurrencies like Bitcoin and Ethereum as well as meme coins such as Shiba Inu and Dogecoin. This move provides institutional clients with broader exposure to the cryptocurrency market.
The US Securities and Exchange Commission (SEC) approved NYSE Arca‘s rule change for the T. Rowe Price Active Crypto ETF on Friday. The approval increases its actively managed crypto fund to 15 assets.
According to the filing on June 12 by T. Rowe, the institutional giant will allow two meme currencies in its portfolio. These include Shiba Inu and Dogecoin.
The 15 approved cryptos are Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Litecoin, Polkadot, Dogecoin, Hedera, Bitcoin Cash, Chainlink, Stellar, Shiba Inu, and Sui. This makes institutional clients open to a wide range of crypto ETFs.
Shiba Inu will benefit from the ETF, but it depends on the allocation size from the institutional giant. The $1.8 trillion asset management firm will likely deploy most funds into Bitcoin and Ethereum.
The amount that could enter SHIB could be a fraction of the overall ETF entry into other assets. While even a fraction of the amount will likely be huge, it needs to fulfil the rest through retail traders.
Both institutions and retail traders need to combine to make Shiba Inu surge in value. A one-sided ETF investment cannot push the needle if trading activity from retailers fails to rise.
The situation for Shiba Inu is described as bleak, as the meme currency has nothing to offer to the financial world. The dog-themed token does not solve any issue plaguing the monetary markets and is just a token in the meme sector.
