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: 2026-04-27
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/activecrypto-s1a_042726.htm

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to have been communicated to it or upon reasonable reliance on information or records given or made by the Fund. However, the Fund will not indemnify the Administrator from losses, damages and expenses occasioned by or resulting from the negligence, misfeasance or willful misconduct of the Administrator, its officers, employees or agents as the case may be. Under the Administration Agreement, the Sponsor indemnifies and holds harmless the Fund from any loss, cost, or expense (direct or indirect), incurred by the Fund resulting from any claim, demand, action or suit in connection with any action or omission by the Sponsor to pay the fees required to be made on behalf of the Administrator and/or the Fund, provided that the indemnification does not apply to actions or omissions of the Administrator and/or a Fund, its officers or employees in cases of its or their own bad faith, negligence, or willful misconduct.

The Administration Agreement
shall continue in full force and effect until the first to occur of: (i) termination for convenience by the Administrator by an
instrument in writing delivered or mailed to the Fund, such termination to take effect not sooner than ninety days after the date of
such delivery; (ii) termination for convenience by the Fund by an instrument in writing delivered or mailed to the Administrator,
such termination to take effect not sooner than thirty days after the date of such delivery; (iii) termination by the Administrator,
by an instrument in writing delivered or mailed to the Fund if the Administrator reasonably determines that servicing the Fund
raises regulatory or reputational concerns, with such termination to 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.