T. Rowe Price Group, Inc. · NASDAQ:TROW
T. Rowe Price — Annual US Equities Conference 2026
17 slides from T. Rowe Price's conference presentation, April 2026
Slide 1: Can we generate alpha in Crypto?
Annual US Equities Conference Can we generate alpha in Crypto? FOR INVESTMENT PROFESSIONAL CLIENTS ONLY. NOT FOR FURTHER DISTRIBUTION.
Slide 2: Blue Macellari, Head of Digital Assets Strategy
Blue Macellari Head of Digital Assets Strategy T. R O W E P R I C E 2
Slide 3: Agenda
Agenda 1 Evolution of crypto markets 2 Investing in Digital Assets 3 Disruptive Technology: Real world use cases T. R O W E P R I C E 3
Slide 4: Birdseye view
Birdseye view As of 10 April 2026 $2.5 Trillion USD 17 2 150+ Market cap of Digital Years since Years since Number of crypto Assets, the first new the first BTC the first US crypto ETF filings pending asset class since was mined ETFs launched Securities and commodities Exchange Commission approval S
Slide 5: Evolution of blockchain and crypto markets
Evolution of blockchain and crypto markets From ‘Wild West’ to early stages of institutionalisation New Layer 1s, high-throughput In January ‘24, litigation prompts SEC chains and Layer 2s dramatically approval of first spot Bitcoin ETFs, Bitcoin White Paper and early increase throughput speed, redu
Slide 6: Forming investment views on digital asset tokens
Forming investment views on digital asset tokens Combining Tech and Drivers fundamental Economics of Growth analysis, narrative Evaluating the protocol—Tech stack, Sectors—Competitive position across and momentum to security, incentive and governance blockchain sectors structure, evolutionary proper
Slide 7: Key pillars of an active crypto investment process
Key pillars of an active crypto investment process Opportunity Set Token Assessment Portfolio Construction Positioning Implementation Investment Form Active Risk-based Discretionary Trading and Universe Views Active Portfolio Overrides Rebalancing ▪ Define appropriate ▪ Active views on tokens ▪ Use
Slide 8: Token Spotlight | Solana (SOL)
Token Spotlight | Solana (SOL) As of 10 April 2026 Key Stats: Efficiency Cost Tokenomics Settlement time: ~400-600ms Median transaction fee: ~$0.001 USD Base fee: 50% burned, 50% to validators Theoretical max capacity: 65k TPS Prioritization fees: charged to speed up Observed max capacity: 100k TPS
Slide 9: Unique challenges of investing in digital assets
Unique challenges of investing in digital assets Blockchains and tokens Blockchains are constantly No standardized, agreed are highly idiosyncratic, evolving, token economics, upon benchmark index making uniform analysis consensus mechanisms, challenging living governance Operational complexity Have
Slide 10: Real world use cases | Utility and disruption
Real world use cases | Utility and disruption While much of the current excitement is around blockchain in financial markets, use cases range from property ownership rights to bootstrapping infrastructure in capex-intensive industries, where blockchain and crypto can facilitate new economic models.
Slide 11: Digital Assets
Digital Assets Blue Macellari joined T. Rowe Price in 2022 as the Head of Digital Assets for T. Rowe Price, where she is responsible for developing and leading the implementation and execution of T. Rowe Price’s digital asset strategy across the universe of crypto tokens, protocols, and exchange-tra
Slide 12: Please share your feedback
Please share your feedback For every survey completed, £10 will go to One for the World Charity Enter passcode USEQUITY26 Scan QR code Enter your email address Complete surveys T. R O W E P R I C E 12
Slide 13: Appendix
Appendix
Slide 14: Common Digital Asset terms | A to L
Common Digital Asset terms | A to L Term Explanation Address (Wallet Address) A unique id code on a blockchain derived from an account’s public key. The blockchain records coin or token ownership against each address. Alt-coin Any cryptocurrency other than Bitcoin. Bitcoin/BTC The first and most wel
Slide 15: Common Digital Asset terms | M to W
Common Digital Asset terms | M to W Term Explanation Creating (minting) or destroying (burning) tokens or coins in a blockchain network. Most blockchains incentivize validators by minting new coins to reward Mint & Burn block creation. Some (e.g., Ethereum) also burn coins to manage supply. Tokens m
Slide 16: Important information
Important information Important information This material is being furnished for general informational and/or marketing purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as the primary basis f
Slide 17: Thank You
Annual US Equities Conference Thank You
T. Rowe Price Group — Annual US Equities Conference 2026 on 6ix