Key Takeaways
- • T. Rowe Price, which manages over $1.3 trillion in assets, appointed Blue Macellari as head of digital assets strategy, tasked with leading development and implementation of the firm's crypto strategy, according to a LinkedIn post and confirmation to The Block.
- • Macellari joins from Dunamis Trading, a crypto hedge fund where she helped launch a "market neutral" crypto trading strategy.
- • The hire comes as T. Rowe has been more cautious than peers; Fidelity launched a digital assets arm in 2018, and BlackRock recently launched a product offering institutional clients spot bitcoin exposure.
- • T. Rowe previously said in April 2022 that current client mandates were not well suited for direct digital asset investment.
Summary
Investment firm T. Rowe Price has appointed Blue Macellari as its head of digital assets strategy, according to a LinkedIn post on Wednesday and confirmation the firm provided to The Block by email on Thursday. Macellari will lead both the development and implementation of the firm's crypto strategy.
Macellari joins T. Rowe from Dunamis Trading, a crypto hedge fund where she helped launch a "market neutral" crypto trading strategy, per LinkedIn. Her earlier career included roles as an emerging markets strategist and specialist at several investment firms, including Elliott Investment Management, TD Securities and Lone Star Funds.
T. Rowe Price, founded in 1937, is an American investment firm with more than $1.3 trillion in assets under management, offering products across equities, fixed income and alternative asset classes. The firm has taken a more measured approach to crypto than many peers. Fidelity, which oversees $4.2 trillion, launched a digital assets arm in 2018. The appointment also coincided with BlackRock's launch of a product giving institutional clients exposure to spot bitcoin.
T. Rowe's cautious stance has been consistent. A spokesperson told Blockworks in April 2022 that current client mandates were not well suited for investing directly in digital assets, in the context of a firm survey finding that 40% of 2,000 children believed crypto is the future of investing. CEO William Stromberg took a similar view in an April 2021 interview with the Baltimore Business Journal, saying "it's early days" for offering crypto investing to clients while acknowledging the firm was researching the space.
Macellari joins T. Rowe from Dunamis Trading, a crypto hedge fund where she helped launch a "market neutral" crypto trading strategy, per LinkedIn. Her earlier career included roles as an emerging markets strategist and specialist at several investment firms, including Elliott Investment Management, TD Securities and Lone Star Funds.
T. Rowe Price, founded in 1937, is an American investment firm with more than $1.3 trillion in assets under management, offering products across equities, fixed income and alternative asset classes. The firm has taken a more measured approach to crypto than many peers. Fidelity, which oversees $4.2 trillion, launched a digital assets arm in 2018. The appointment also coincided with BlackRock's launch of a product giving institutional clients exposure to spot bitcoin.
T. Rowe's cautious stance has been consistent. A spokesperson told Blockworks in April 2022 that current client mandates were not well suited for investing directly in digital assets, in the context of a firm survey finding that 40% of 2,000 children believed crypto is the future of investing. CEO William Stromberg took a similar view in an April 2021 interview with the Baltimore Business Journal, saying "it's early days" for offering crypto investing to clients while acknowledging the firm was researching the space.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.