SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-10.5
Date Filed: 2026-04-27
Accession Number: 0001999371-26-009120
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2089855/000199937126009120/ex10-5.htm

Chunk 0 of 7
Word Count: 1499
Character Count: 9506

Document Content:

T.Rowe Price Active Crypto ETF S-1A

Exhibit 10.5

TRANSFER AGENCY AND SERVICE AGREEMENT

THIS TRANSFER AGENCY AND SERVICE AGREEMENT (this
“Agreement”) is made as of March 26, 2026, by and between STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust company
having its principal office and place of business at One Congress Street, Boston, Massachusetts 02114 (“State Street” or the
“Transfer Agent”), and T. ROWE PRICE SPONSOR LLC, (the “Sponsor”), a Delaware limited liability corporation having
its principal office and place of business at 1307 Point Street, Baltimore, Maryland 21231 on behalf of each entity identified on Schedule
A (collectively the “Trust”).

WHEREAS, the Trust is authorized
to issue shares of beneficial interest (“Shares”) representing interests in a portfolio of digital assets and other assets,
which issuance and redemption will be only in aggregations of Shares known as “Creation Units” as described in the currently
effective prospectus and most recently filed registration statement of the Trust (collectively, the “Prospectus”);

WHEREAS, only those entities
(“Authorized Participants”) that have entered into an Authorized Participant Agreement with the distributor of the Trust,
currently T. Rowe Price Investment Services, Inc. (the “Distributor”) and the Transfer Agent, are eligible to place orders
for Creation Units with the Distributor;

WHEREAS, the Depository Trust
Company, a limited purpose trust company organized under the laws of the State of New York (“DTC”) or its nominee will be
the record or registered owner of all outstanding Shares;

WHEREAS, Trust
desires to appoint Transfer Agent to act as its transfer agent, dividend disbursing agent and agent in connection with certain other activities,
and Transfer Agent has the capability of providing such services and desires to accept such appointment.

NOW, THEREFORE, in consideration
of the mutual covenants herein contained, the parties hereto, agree as follows:

1.	TERMS OF APPOINTMENT

1.1	Subject to the terms and conditions set forth in this Agreement, the Trust hereby employs and appoints
the Transfer Agent to act as, and the Transfer Agent agrees to act as, transfer agent for the Creation Units and dividend disbursing agent
of the Trust, in accordance with the policies and procedures agreed to by the Transfer Agent and the Trust.

1.2	Transfer Agency Services . In accordance with procedures established from time to time by written
agreement between the Trust, as applicable, and the Transfer Agent, the Transfer Agent shall:

●	establish each Authorized Participant’s account in the Trust’s
on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant;

●	receive and process orders for the purchase of Creation Units from the Distributor
or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the Trust as identified by the Trust
(the “Custodian”);

●	generate, or cause to be generated, and transmit confirmation of receipt
of such purchase and redemption orders to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the
National Securities Clearance Corporation (“NSCC”) and/or DTC;

●	receive and process redemption requests and redemption directions from the
Distributor or the Trust, and deliver the appropriate documentation thereof to the Custodian;

●	with respect to items (i) through (iv) above, the Transfer Agent may execute
transactions directly with Authorized Participants and the Distributor or its agent;

●	at the appropriate time as and when it receives monies paid to it by the
Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming
Authorized Participant as instructed by the Distributor or the Trust;

●	prepare and transmit by means of DTC’s book-entry system payments
for any dividends and distributions declared by the Trust;

●	record the issuance of Shares of the Trust and maintain a record of the
total number of Shares of the Trust which are issued and outstanding; and provide the Trust or its agent on a regular basis with the total
number of Shares of the Trust which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance
of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance
of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility
of the Trust; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities
to account for, keep records of, or otherwise related to, the beneficial owners of the Shares;

●	maintain and manage, as agent for the Trust, such bank accounts as the Transfer
Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation
Unit purchases and redemptions and the payment of the Trust’s cash dividends and distributions. The Transfer Agent may maintain
such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law;

●	process any request from an Authorized Participant to change its account
registration; and

●	except as otherwise instructed by the Trust, the Transfer Agent shall process
all transactions in the Trust in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect
to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other
person or firm on behalf of the Trust or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall
report to the Trust any known exceptions to the foregoing.

1.3	Additional Services . In addition to, and neither in lieu of nor in contravention of the
services set forth in Section 1.2 above, the Transfer Agent shall perform the following services:

(i)	The Transfer Agent shall perform such other services for the Trust that are mutually agreed to by the
parties from time to time, for which the Trust will pay such fees and reimburse such reasonable out-of-pocket expenses as may be mutually
agreed upon The provision of such services shall be subject to the terms and conditions of this Agreement.

(ii)	DTC and NSCC. The Transfer Agent shall: (a) accept and effectuate the registration and maintenance
of accounts, and the purchase and redemption of Creation Units in such accounts, in accordance with instructions transmitted to and received
by the Transfer Agent by transmission from DTC or NSCC on behalf of Authorized Participants; and (b) issue instructions to the Trust’s
banks for the settlement of transactions between the Trust and DTC or NSCC (if applicable) (acting on behalf of the applicable Authorized
Participant).

1.4	Authorized Persons . The Trust hereby agrees and acknowledges that the Transfer
Agent may rely on the current list of authorized persons, including the Distributor, as provided or agreed to by the Trust in writing
and as may be amended from time to time (each, an “Authorized Person”), in receiving instructions to issue or redeem Creation
Units. The Trust agrees and covenants for itself and each such Authorized Person that any order or sale of or transaction in Creation
Units received by it after the order cut-off time as set forth in the Prospectus or such earlier time as designated by the Trust (the “Order
Cut-Off Time”), shall be effectuated at the net asset value determined on the next business day or as otherwise required pursuant
to the Trust’s then-effective Prospectus, and the Trust or such Authorized Person shall so instruct the Transfer Agent of the proper
effective date of the transaction.

1.5	Anti-Money Laundering and Client Screening . With respect to the Trust’s offering and sale
of Creation Units at any time, and for all subsequent transfers of such interests, the Trust or its delegate shall, to the extent applicable,
and to the extent required by law: (i) conduct know your customer/client identity due diligence with respect to potential investors and
transferees in the Shares and Creation Units and shall obtain and retain due diligence records for each investor and transferee; (ii)
use its commercially reasonable efforts to ensure that each investor’s and any transferee’s funds used to purchase Creation
Units or Shares shall not be derived from, nor the product of, any criminal activity; (iii) if requested, provide periodic written verifications
that such investors/transferees have been checked against the United States Department of the Treasury Office of Foreign Assets Control
database for any non-compliance or exceptions; and (iv) perform its obligations under this Section in accordance with all applicable anti-money
laundering laws and regulations. In the event that the Transfer Agent has received advice from counsel that access to underlying due diligence
records pertaining to the investors/transferees is necessary to ensure compliance by the Transfer Agent with relevant anti-money laundering
(or other applicable) laws or regulations, the Trust shall, upon receipt of written request from the Transfer Agent, provide the Transfer
Agent copies of such due diligence records.