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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Custodians, Transfer Agent, licensors, accounting and audit fees and expenses, tax preparation expenses, ongoing SEC registration fees, report preparation and mailing expenses, and ordinary legal fees and expenses. The Fund pays certain expenses as described in “Business of the Fund - Fund Fees and Expenses,” including brokerage commissions, transaction fees, borrowing and financing costs, taxes or governmental fees, and non-recurring, extraordinary, or unusual fees and expenses. Examples of extraordinary expenses include services performed by the Sponsor (or any other service provider) on behalf of the Fund to protect the Fund or the interests of Shareholders (including, for example, in connection with any fork of the Bitcoin or Ethereum blockchain), any indemnification of the Cash Custodian, Crypto Custodian, Administrator or other agents, service providers or counterparties of the Fund, and extraordinary legal fees and expenses, including any legal fees and expenses incurred in connection with litigation, regulatory enforcement or investigation matters.

The Sponsor Agreement provides
that the Sponsor will not be liable for losses to the Fund nor any Shareholder. Further, the Sponsor shall be indemnified, to the extent
provided in the Trust Agreement, which provides that the Sponsor, its affiliates, and their directors, officers, and employees (each
a “Sponsor Indemnified Party”) shall be indemnified by the Fund against any losses, judgments, liabilities, expenses and
amounts paid in settlement of any claims sustained by it in connection with its activities for the Trust, provided that (i) the
Sponsor was acting on behalf of, or performing services for, the Trust and has determined, in good faith, that such course of conduct
was in the best interests of the Trust and such liability or loss was not the result of fraud, gross negligence, bad faith, willful misconduct,
or a material breach of this Trust Agreement on the part of the Sponsor and (ii) any such indemnification will be recoverable only
from Trust assets. All rights to indemnification permitted herein and payment of associated expenses shall not be affected by the dissolution
or other cessation of existence of the Sponsor, or the withdrawal, adjudication of bankruptcy or insolvency of the Sponsor, or the filing
of a voluntary or involuntary petition in bankruptcy under Title 11 of the United States Code by or against the Sponsor.

The Sponsor Agreement may be
terminated: (i) by the Sponsor at any time upon 30 days’ prior written notice; or (ii) by either party upon discovery of
acts of fraud or willful malfeasance of the other party in performing its duties thereunder.

Key Personnel of the Sponsor

[Board of Directors. The
Fund does not have a board of directors. The Sponsor is overseen by a Board of Directors (“Board”) and its Audit Committee
serves as the Audit Committee of the Fund for purposes of Rule 10A-3 under the Exchange Act. The following persons, in their capacities
as directors of the Sponsor, perform certain functions with respect to the Fund that, if the Fund had directors, would typically be performed
by them. Each of these directors:

[name of each Independent Director]
[year of birth, term of service as director of the Sponsor, a description of each director's principal occupation and business experience
during at least the past five years, any other public company board representation, education, and any material legal proceedings in
the last 10 years]

The following persons are considered
interested directors because they also serve as employees of the Administrator or its affiliates.

David Oestreicher (born 1967)
serves [as a director of the board of the Sponsor] and the Chief Executive Officer of the Sponsor since inception. As general counsel
of the Firm, he oversees the legal, compliance, audit, and risk functions for the Firm globally. He has served as an interested director
of the T. Rowe Price registered investment companies since July 2018. He has been with the Firm since 1997. Additionally, Mr. Oestreicher
serves as a member of the Board of Governors for the Investment Company Institute (ICI), and previously served as the chair of the ICI’s
international committee. He serves as chair of the ICI Mutual Insurance Company Board of Governors and as chair of its executive committee. He
also served on the board of the Investment Adviser Association and previously served as the chair of its legal and regulatory committee.
Prior to joining the Firm, Mr. Oestreicher was special counsel at the SEC. He earned a B.S. in business administration from Bucknell
University and a J.D. from Villanova University School of Law.

Alan Dupski (born 1982) serves
as [a director of the board of the Sponsor] and the Chief Financial Officer of the Sponsor since inception. As Head of Fund Administration
and Accounting for the Firm, he oversees financial reporting, fund accounting, fund operations, tax, and valuation for the Firm’s
pooled investment vehicles globally. He has been with the Firm since 2015. Prior to joining the Firm, Mr. Dupski was an assistant
chief accountant at the SEC and a senior manager at PricewaterhouseCoopers, LLP. He earned a B.S. in accounting and finance from the
University of Maryland. He is a certified public accountant.

Audit Committee of the Board.
The audit committee operates pursuant to a written charter adopted by the Sponsor’s board of directors. The Sponsor will provide
a copy of the audit committee charter, without charge, to any shareholder who requests one.

The members of the audit committee
are [ ], each of whom is considered independent as described in the “Director Independence” section. The Board has determined
that each member of the audit committee is financially literate, as defined by the Exchange. The Board has determined that [ ] qualifies
as an "audit committee financial expert" as defined in Item 407(d)(5) of Regulation S-K.

Director Independence.
The Board has undertaken a review of the independence of each director. In connection with this review, the Board has considered transactions,
relationships and arrangements between each director or any member of his or her immediate family and the Sponsor and its subsidiaries
and affiliates, including the Fund. The purpose of this review was to determine whether any such relationships or arrangements were inconsistent
with a determination that the director is independent.

In making its independence determinations,
the Board applied the independence standards set forth in the applicable rules of the Exchange and Rule 10A-3, including the additional
independence requirements for audit committee members set forth therein. After reasonable evaluation under such standards, the Board
determined that each of member of the Audit Committee qualifies as “independent.”]

Officers. The Fund does
not have any officers or employees. The following persons, in their capacities as executive officers of the Sponsor, a Delaware limited
liability company, perform certain functions with respect to the Fund that, if the Fund had directors or executive officers, would typically
be performed by them: David Oestreicher, Chief Executive Officer of the Sponsor, and Alan Dupski, Chief Financial Officer of the Sponsor.

The Trustee

The sole Trustee of the Trust
is CSC Delaware Trust Company. The Trustee’s principal offices are located at 251 Little Falls Drive, Wilmington, DE 19808
and its telephone number is (866) 403-5272. The Trustee is unaffiliated with the Sponsor. The Trustee’s duties and liabilities
with respect to the offering of Shares and the management of the Fund are limited to its express obligations under the Trust Agreement.

The Trustee will accept service
of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. The Trustee
does not owe any other duties to the Trust, the Sponsor or the Shareholders. The Trustee is permitted to resign upon at least sixty (60)
days’ written notice to the Sponsor. The Trust Agreement provides that the Trustee is entitled to reasonable compensation for its
services from the Sponsor or an affiliate of the Sponsor (including the Fund), and is indemnified by the Fund against any expenses it
incurs relating to or arising out of the formation, operation or termination of the Trust, or any action or inaction of the Trustee under
the Trust Agreement, except to the extent that such expenses result from bad faith, the gross negligence or willful misconduct of the
Trustee. Under the Trust Agreement, in the event the Fund is made a party to a legal proceeding or incurs loss as a result of or in connection
with any Shareholder unrelated to Fund affairs, such Shareholder must indemnify the Fund for such expenses and losses. The Sponsor has
the discretion to replace the Trustee.