SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-10.7
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/ex10-7.htm

Chunk 4 of 7
Word Count: 1428
Character Count: 8992

Document Content:

Participant (each an “Authorized Person”) to give Orders and instructions relating to any activity contemplated by this Agreement on behalf of the Participant. Such certificate will be relied upon by the Sponsor, Distributor, and Transfer Agent as conclusive evidence of the facts set forth therein and shall be considered to be in full force and effect until receipt by the Sponsor, Distributor, and Transfer Agent of a superseding certificate or amended certificate or of written notice from the Participant that an individual should be added to, or removed from, the certificate. Whenever the Participant wants to add an Authorized Person, revoke the authority of an Authorized Person, or change or cancel a PIN Number (as defined below), the Participant shall give prompt written notice of such fact to the Sponsor, Distributor, and Transfer Agent, and such written notice shall be effective upon receipt by the Sponsor, Distributor, and Transfer Agent.

(b)       PIN
Number. The Transfer Agent shall issue to each Authorized Person a unique personal identification number (“PIN Number”)
by which the Participant and such Authorized Person shall be identified and instructions to the Sponsor, Distributor, and Transfer Agent
issued by Participant through the Authorized Person shall be authenticated. The Participant and each Authorized Person shall keep his/her
PIN Number confidential and only those Authorized Persons who were issued a PIN Number shall use such PIN Number to identify himself/herself
and to submit instructions for Participant, to the Sponsor, Distributor, and Transfer Agent. If an Authorized Person’s PIN Number
is changed, the new PIN Number will become effective on a date mutually agreed upon in writing by the Participant and Transfer Agent.
If an Authorized Person’s PIN Number is compromised, the Participant shall contact the Transfer Agent promptly in writing in order
for a new one to be issued. Upon receipt of written notice as set forth in paragraph (a) of this section, the Transfer Agent agrees to
promptly issue a PIN Number when the Participant adds an Authorized Person and shall promptly cancel a PIN Number when the Participant
revokes a person’s authority to act for it. Upon the termination or revocation of authority of such Authorized Person by the Participant,
the Participant shall give prompt written notice of such fact to the Sponsor, Distributor, and Transfer Agent and such written notice
shall be effective upon receipt by the Sponsor, Distributor, and Transfer Agent.

(c)       Verification.
The Distributor, Sponsor, and Transfer Agent shall not have any obligation to verify instructions and Orders given using a PIN
Number and shall assume that all instructions and Orders issued to it using an Authorized Person’s PIN Number have been
properly placed, unless the Distributor, Sponsor, and Transfer Agent have actual knowledge to the contrary because they received
from the Participant written notice as set forth in paragraph (a) of this section that such person is no longer authorized to act on
behalf of Participant. The Participant agrees that none of the Distributor, Sponsor, Transfer Agent, or the Fund shall be liable,
absent gross negligence, bad faith or willful misconduct, for any Loss (as defined below) incurred by the Participant as a result of
the unauthorized use of an Authorized Person’s PIN Number, unless the Sponsor, Distributor, and Transfer Agent previously
received from Participant written notice to revoke such Authorized Person’s PIN Number as set forth in paragraph (a) of this
section. This paragraph shall survive the termination of this Agreement.

9.	REDEMPTIONS

(a)       Business
Day. The Participant understands and agrees that Redemption Orders may be submitted only on days that the Fund is open for business
and that the Listing Exchange is open for trading or business (“Business Day”).

(b)       Transferability
of Fund Shares. The Participant represents and warrants that it will not attempt to place a Redemption Order for the purpose of redeeming
any Creation Units unless it first ascertains that, on or prior to the contractual settlement date, (i) it or a Participant Client, as
the case may be, owns (within the meaning of Rule 200 of Regulation SHO) outright or has full legal authority and legal and beneficial
right to tender for redemption the requisite number of Shares to be redeemed and receive the entire proceeds of the redemption, and (ii)
that such Shares have not been loaned or pledged to another entity and are not the subject of a repurchase agreement, securities lending
agreement, or any other agreement that would preclude the delivery of such Shares to the Fund in accordance with the Prospectus and on
a “regular way” basis, or as otherwise required by the Fund. The Participant understands that Shares of the Fund may be redeemed
only when one or more Creation Units are held in its account. In the event that the Sponsor, Distributor, or Transfer Agent reasonably
believes in good faith that a Participant would not be able to deliver the requisite number of Shares to be redeemed as a Creation Unit
on the settlement date, the Sponsor, Distributor, or Transfer Agent may, without liability, reject the Participant’s Redemption
Order. In the event that the Participant receives Fund assets the value of which exceeds the net asset value of the Fund at the time of
redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant’s customer to pay,
on such day, to the Fund an amount in cash equal to the difference or return such assets to the Fund, unless the Fund and Participant
otherwise agree.

10.	BENEFICIAL OWNERSHIP

(a)       The
Participant, on behalf of itself and Participant Clients, represents and warrants that either (i) it does not, and will not in the
future as the result of one or more Purchase Orders cause the Fund to have a basis in the portfolio assets deposited with the Fund
different from the market value of such portfolio assets on the date of such deposit, pursuant to the Internal Revenue Code of 1986,
as amended (“IRC”), including section 721 of IRC or (ii) it is carrying some or all of the Deposit Assets as a dealer
and as inventory in connection with its market making activities.

(b)       The
Sponsor, Distributor, and Transfer Agent each have the right to require, as a condition to the acceptance of a deposit of Deposit Assets,
information from the Participant regarding ownership of the Shares by such Participant and its customers, and to rely thereon to the extent
necessary to make a determination regarding ownership of the Fund’s currently outstanding Shares by a Beneficial Owner.

(c)       Such
representations and warranties shall be deemed repeated with respect to each order for one or more Creation Units of Shares of any Fund.
If more than one Beneficial Owner is combined in an order to create Shares, this representation is made by taking into account all such
Beneficial Owners’ ownership of Shares as a group. The Participant understands and agrees that the order form relating to any order
for one or more Creation Units of Shares of any Fund shall state substantially the same foregoing representations and warranties.

11.	INDEMNIFICATION

This Section shall survive the termination of
this Agreement.

(a)       Indemnification
by the Participant. Subject to the conditions in Section 11(c), the Participant hereby agrees to indemnify and hold harmless the Sponsor,
Distributor, Fund, Transfer Agent, their respective subsidiaries, affiliates, directors, trustees, officers, employees, and agents, and
each person, if any, who controls such persons within the meaning of Section 15 of the 1933 Act (each a “Participant Indemnified
Party”), from and against any loss, liability, cost, or expense (including reasonable attorneys’ fees) (“Loss”)
incurred by such Participant Indemnified Party as a result of (i) any negligent act or omission of Participant or its agents relating
to an Order; (ii) any material breach by the Participant of any provision of this Agreement that relates to the Participant; (iii) any
material representation provided by the Participant herein that is false or misleading or omits material information necessary to make
the statement contained therein complete; (iv) any material failure on the part of the Participant to perform any of its obligations set
forth in this Agreement; (v) any material failure by the Participant to comply with applicable laws, rules, and regulations, including
rules and regulations of self-regulatory organizations in relation to its role as Participant under this Agreement; (vi) actions of a
Participant Indemnified Party taken in reasonable reliance upon any instructions reasonably believed by the Fund, Sponsor, Distributor
and/or Transfer Agent to be genuine and to have been given by the Participant; or (vii) the Participant’s failure to complete an
Order that has been accepted.