SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-03-16
Accession Number: 0001999371-26-005896
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2089855/000199937126005896/active-s1a_031626.htm

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take effect not sooner than sixty days after the date of such delivery; or (iv) termination by the either party by written notice delivered to the other party, based upon: (a) the terminating party’s determination that there is a reasonable basis to conclude that the other party is insolvent or that the financial condition of the other party is deteriorating in any material respect, in which case termination shall take effect upon the other party’s receipt of such notice or at such later time as the terminating party shall designate; (b) the other party committing a material breach of the Administration Agreement, and failing to remedy such material breach within ninety days of being given written notice of the material breach, unless the parties agree to extend the period to remedy the breach; or (c) the relevant state or federal authority withdrawing its authorization of either party. The Crypto Custodian

The Crypto Custodian for the Fund’s
crypto asset and stablecoin holdings is Anchorage Digital Bank N.A., pursuant to the Master Custody Service Agreement between Anchorage
Digital Bank N.A. and the Fund dated February 26, 2026 (“Crypto Custodian Agreement”). The Crypto Custodian is a National
Trust Bank regulated by the Office of the Comptroller of the Currency. The Crypto Custodian’s principal offices are located at 101
S. Reid Street, Suite 307 #329, Sioux Falls, South Dakota 57103. The Crypto Custodian is unaffiliated with the Sponsor.

The Crypto Custodian is responsible
for keeping the passwords, keys or phrases used to effect transfers of the Fund’s crypto assets safe, secure and
confidential. The Crypto Custodian will help establish accounts and any necessary sub-accounts on the crypto asset networks
solely for the Fund. The Crypto Custodian will follow valid instructions to use such passwords, keys or phrases to effect transfers
from the Fund’s portfolio. The Crypto Custodian is required to record all crypto assets that it receives into the Fund’s
account as the assets of the Fund, and must separately identify them from the crypto assets of the Crypto Custodian and the Crypto Custodian’s
other clients. The Crypto Custodian must provide the Fund with access to a technology platform for transaction records and holdings.
The Crypto Custodian is required to maintain such books and records in accordance with applicable law and provide such materials to the
Fund on request.

Neither party is liable for delays,
suspension of operations, failure in performance, or interruption of service, which is directly caused by or results from a cause or
condition entirely beyond the reasonable control of that party. Except in the case of Crypto Custodian’s: (i) breach of the Crypto
Custodian Agreement; (ii) violation of applicable laws, (iii) negligence, (iv) failure to comply with applicable internal policies and
procedures in connection with cybersecurity incidents or attacks; (v) failure to take reasonable precautions and act in a manner consistent
with industry best practices in connection with the prevention and mitigation of cybersecurity incidents or attacks; or (vi) willful
misconduct, Crypto Custodian shall not have any liability, obligation, or responsibility for any damage or interruptions caused by any
cybersecurity incident or attack (including DDoS, network intrusion, or critical vulnerability exploitation). The Fund holds the Crypto
Custodian harmless from claims or losses related to transactions where they correctly execute instructions.

Under the Crypto Custodian Agreement,
except in the case of Mutually Capped Liabilities (defined in the Crypto Custodian Agreement), the Crypto Custodian’s liability
is limited to either: (a) the aggregate amount of fees paid in the 12-month period prior to the subject event; or (b) the value of the
Fund’s crypto assets, where such liability directly relates to those crypto assets, including where such crypto assets are lost,
stolen or otherwise misappropriated from the Crypto Custodian’s custody. With respect to the Mutually Capped Liabilities, each
party’s liability is limited to the greater of: (a) the aggregate amount of fees paid to the Crypto Custodian in the 12-month period
prior to the event giving rise to such liability; or (b) $10,000,000. Mutually Capped Liabilities are (i) claims and losses arising from
a party’s breach of its confidentiality obligations under the Crypto Custodian Agreement; (ii) a party’s indemnity obligations
under the Crypto Custodian Agreement (except with respect to the full amount of any Fund crypto assets that are lost, stolen or otherwise
misappropriated from custody); and (iii) claims and losses arising from the violation, misappropriation, or infringement by a party of
any third party intellectual property rights. Notwithstanding any other limitations described herein, neither party’s liability
is limited in respect of any claims or losses arising from its gross negligence, fraud or willful misconduct.

Under the Crypto Custodian Agreement,
the Crypto Custodian is required to defend and indemnify the Fund against any and all claims and losses arising out of or relating to:
(i) the Crypto Custodian’s breach of its confidentiality, data protection, and information security obligations; (ii) the Crypto
Custodian’s violation of any applicable law in connection with the provision of its services to the Fund; (iii) the full amount
of any crypto assets in the Fund’s account which are lost from the Crypto Custodian’s custody; (iv) Crypto Custodian’s
gross negligence, fraud or willful misconduct; and (v) any third party intellectual property rights claim in respect of the Fund’s
access to or use of the Crypto Custodian’s services.

The Fund is required to defend
and indemnify the Crypto Custodian against any and all third party claims and losses arising out of or relating to: (i) the Fund’s
material breach of the Crypto Custodian Agreement; (ii) the Fund’s violation of any applicable law related to the performance of
its obligations under the Crypto Custodian Agreement; or (iii) the Fund’s gross negligence, fraud or willful misconduct, with exceptions
documented in the Crypto Custodian Agreement.

The Crypto Custodian Agreement
shall continue for an initial three-year term, following which it shall automatically renew for further terms of one year each. The Fund
may terminate the Crypto Custodian Agreement for cause where, subject to the agreed remedy period, Crypto Custodian: (i) suffers a bankruptcy
or insolvency event; (ii) fails to withdraw or transfer crypto assets in accordance with the Fund’s instructions; or (iii) is otherwise
in material breach of its obligations under the Crypto Custodian Agreement. The Fund may also terminate the Crypto Custodian Agreement
for convenience at any time on thirty days’ written notice. The Crypto Custodian may terminate the agreement for cause where, subject
to the agreed remedy period, the Fund (i) suffers a bankruptcy or insolvency event or (ii) is in material breach of its obligations under
the Crypto Custodian Agreement.

The Crypto Custodian is required
to maintain the confidentiality of the Fund’s Confidential Information (as defined in the Crypto Custodian Agreement). Except to
the extent disclosure is required to be made by law or to third parties who need to know the information order for the Crypto Custodian
to provide the custodial services to the Fund, the Crypto Custodian may not disclose the Fund’s confidential information to third
parties without the Fund’s prior written consent. In designating a custodian as a Crypto Custodian for the Fund, the Sponsor considers
whether the custodian carries insurance, provides protection against theft and loss and ensures that the transactions and trades are
secure. Although the Crypto Custodian carries insurance provided by a private insurance carrier, the Crypto Custodian’s insurance
addresses loss due to theft, robbery, burglary, third party computer, and funds transfer fraud. The insurance does not cover any loss
in value to the Fund and only covers losses caused by certain events such as fraud or theft and, in such covered events, it is unlikely
the insurance would cover the full amount of any losses incurred by the Fund. The insurance maintained by the Crypto Custodian is shared
among all of the Crypto Custodian’s customers, is not specific to the Fund or to customers holding any crypto assets with the Crypto
Custodian and may not be available or sufficient to protect the Fund from all possible losses or sources of losses.

The Cash Custodian

The Cash Custodian for the
Fund’s cash and non-crypto assets is [ ]. [ ] (“Master Custodian Agreement”). The Cash Custodian is not
affiliated with the Sponsor.

The Cash Custodian is responsible
for safekeeping all cash and other non-crypto assets of the Fund delivered to the Cash Custodian. The Cash Custodian has agreed
to, among other things, open and maintain a separate deposit account or accounts of the Fund, to determine the amount of crypto
and/or cash required for an issuance or redemption of Shares in a creation unit, and to release and deliver non-crypto assets and
pay out cash.

[material terms, including
on term, termination, and indemnification, to be provided]

Trading Counterparties