SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-3.1
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/ex3-1.htm

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the Trustee unless consented to by the Trustee in writing. No amendment shall be made to this Trust Agreement without the consent of the Trustee if the Trustee reasonably believes that such amendment adversely affects any of its rights, duties or liabilities. Section 9.2 Meetings of the Trust. Meetings of the Shareholders may be called by the Sponsor in its sole discretion. The Sponsor shall provide written notice to all Shareholders thereof of the meeting and the purpose of the meeting, which shall be held on a date not less than thirty (30) nor more than sixty (60) days after the date of mailing of said notice, at a reasonable time and place. Any notice of meeting shall be accompanied by a description of the action to be taken at the meeting. Shareholders may vote in person or by proxy at any such meeting. Section 9.3 Action Without a Meeting.

Any action required or permitted to
be taken by Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents
shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder to any action of the Trust or any Shareholder
is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder given by mail or email to the address set
forth in the books and records of the Trust. The vote or consent of each Shareholder so solicited shall be deemed conclusively to have
been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that
Shareholder, unless the Shareholder expresses written objection to the vote or consent by notice in the manner provided for in the notice
of solicitation . The Sponsor shall be entitled to act in reliance on any vote or consent that is deemed cast or granted pursuant to this
Section 9.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or
consent of one or more Shareholders shall not be void or voidable by reason, except as expressly provided for in the notice of solicitation.

Article X

TERMINATION

Section 10.1   Events
Requiring Dissolution of the Trust.

(a)	The Trust shall dissolve at any time upon the happening of any of the following events:

(i)         Shares are delisted from the Trust’s listing exchange and are not approved for listing on another national securities
exchange within five business days of their delisting;

(ii)        180 days have elapsed since the Trustee notified the Sponsor of the Trustee’s election to resign or since the Sponsor
removed the Trustee, and a successor trustee has not been appointed and accepted its appointment;

(iii)       the U.S. Securities and Exchange Commission (SEC) determines that the Trust is an investment company under the Investment
Company Act of 1940 (the “1940 Act”), and the Sponsor has made the determination that termination of the Trust is advisable;

(iv)       the Commodity Futures Trading Commission (CFTC) determines that the Trust is a commodity pool under the Commodity Exchange
Act (CEA), and the Sponsor has made the determination that termination of the Trust is advisable;

(v)        the Trust is determined to be a “money service business” under the regulations promulgated by the Financial
Crimes Enforcement Network (FinCEN) under the authority of the US Bank Secrecy Act and is required to comply with certain FinCEN regulations
thereunder or is determined to be a “money transmitter” (or equivalent designation) under the laws of any state in which the
Trust operates and is required to seek licensing or otherwise comply with state licensing requirements, and the Sponsor has made the determination
that termination of the Trust is advisable;

(vi)       a United States regulator requires the Trust to shut down or forces the Trust to liquidate its holdings;

(vii)      any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts
to make a fair determination of the price of the Trust’s assets for purposes of determining the net asset value (NAV) of the Trust;

(viii)     the Sponsor determines that the aggregate net assets of the Trust in relation to the operating expenses of the Trust make
it unreasonable or imprudent to continue the business of the Trust;

(ix)        the Trust fails to qualify for treatment, or ceases to be treated, as a “partnership” under the Code or any
comparable provision of the laws of any State or other jurisdiction where that treatment is sought, and the Sponsor determines that, because
of that tax treatment or change in tax treatment, termination of the Trust is advisable;

(x)         60 days have elapsed since the Depository Trust Company or another depository has ceased to act as depository with respect
to the Shares, and the Sponsor has not identified another depository that is willing to act in such capacity;

(xi)        the Shareholders elect to terminate the Trust after the Sponsor is conclusively deemed to have resigned effective immediately
as a result of the Sponsor being adjudged bankrupt or insolvent, or a receiver of the Sponsor or of its property being appointed, or a
trustee or liquidator or any public officer taking charge or control of the Sponsor or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation and a successor sponsor has not been appointed; or

(xii)       the Sponsor elects to terminate the Trust after the Trustee, Administrator or the Crypto Custodian (or any successor trustee,
administrator or custodian) resigns or otherwise ceases to be the trustee, administrator or custodian of the Trust, as applicable, and
no replacement trustee, administrator and/or custodian acceptable to the Sponsor is engaged.

In respect of termination events that
rely on Sponsor determinations to terminate the Trust, the Sponsor may consider, without limitation, the profitability to the Sponsor
and other service providers of the operation of the Trust, any obstacles or costs relating to the operation or regulatory compliance of
the Trust relating to the determination’s triggering event, and the ability to market the Trust to investors. To the extent that
the Sponsor determines to continue operation of the Trust following a determination’s triggering event, the Trust will be required
to alter its operations to comply with the triggering event. For instance, in a determination that the Trust is an investment company,
the Trust and Sponsor would have to comply with the regulations and disclosure and reporting requirements applicable to investment companies
and investment advisers. In each such case and in the case of the Sponsor’s determination as to whether a potential successor trustee
or custodian is acceptable to it, the Sponsor will not be liable to anyone for its determination of whether to continue or to terminate
the Trust.

(b)          The Sponsor may determine, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs
of the Trust and so dissolve the Trust.

(c)          The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Shareholder shall not result in the
termination of the Trust, and such Shareholder, his estate, custodian or personal representative shall have no right to a redemption of
such Shareholder’s Shares. Each Shareholder (and any assignee thereof) expressly agrees that in the event of his death, he waives
on behalf of himself and his estate, and he directs the legal representative of his estate and any person interested therein to waive,
the furnishing of any inventory, accounting or appraisal of the Trust Property and any right to an audit or examination of the books of
the Trust, except for such rights as are set forth in Article VII hereof relating to the books of account and reports of the Trust.

Section 10.2   Distributions on Dissolution.