SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-10.4
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/ex10-4.htm

Chunk 4 of 12
Word Count: 1331
Character Count: 8339

Document Content:

Trust (or its Sponsor acting on its behalf) with SSGM or any sub-custodian, SSGM and each such sub-custodian: (i) shall be acting in a principal capacity and not as broker, agent or fiduciary to any Trust or its Sponsor; (ii) shall seek to profit from such foreign exchange transactions, and are entitled to retain and not disclose any such profit to any Trust or its Sponsor; and (iii) shall enter into such foreign exchange transactions pursuant to the terms and conditions, including pricing or pricing methodology, (a) agreed with the applicable Trust or its Sponsor from time to time or (b) in the case of an indirect foreign exchange service, (i) as established by SSGM and set forth in the Client Publications with respect to the particular foreign exchange execution services selected by the applicable Trust or the Sponsor or (ii) as established by the sub-custodian from time to time.

SECTION 6.4.     TRANSACTIONS
BY STATE STREET. The Custodian or its affiliates, including SSGM, may trade based upon information that is not available to the applicable
Trust (or its Sponsor acting on its behalf), and may enter into transactions for its own account or the account of clients in the same
or opposite direction to the transactions entered into with the Trust (or its Sponsor), and shall have no obligation, under this Agreement,
to share such information with or consider the interests of their respective counterparties, including, where applicable, the Trust or
the Sponsor.

SECTION 6A.	CONTRACTUAL SETTLEMENT SERVICES (PURCHASE/SALES).

SECTION 6A.1     GENERAL.
The Custodian shall, in accordance with the terms set out in this Section 6A, debit or credit the appropriate deposit account of the applicable
Trust on a contractual settlement basis in connection with the purchase of securities or other financial assets for the Trust or the receipt
of the proceeds of the sale or redemption of securities or other financial assets.

SECTION 6A.2     PROVISION
OF SERVICES. The services described in Section 6A.1 (the “Contractual Settlement Services”) shall be provided
as such Trust may from time to time request for the securities and other financial assets and in such markets as the Custodian may
advise from time to time. The Custodian may terminate or suspend any part of the provision of the Contractual Settlement Services at
its sole discretion immediately upon notice to the applicable Trust on behalf of each Trust, including, without limitation, in the
event of force majeure events affecting settlement, any disorder in markets, or other changed external business circumstances
affecting the markets or the Trust.

SECTION 6A.3     Purchase
Consideration. The consideration payable in connection with a purchase transaction shall be debited from the appropriate deposit
account of the Trust as of the time and date that funds would ordinarily be required to settle the transaction in the applicable market.
The Custodian shall promptly recredit the amount at the time that the Trust notifies the Custodian by Proper Instruction that the transaction
has been canceled.

SECTION 6A.4     SALES AND
REDEMPTIONS. A provisional credit of an amount equal to the net sale price for a sale or redemption of securities or other financial
assets shall be made to the account of the Trust as if the amount had been received as of the close of business on the date on which
good funds would ordinarily be immediately available in the applicable market. The provisional credit will be made conditional upon the
Custodian having received Proper Instructions with respect to, or reasonable notice of, the transaction, as applicable; and the Custodian
or its agent having possession of the securities of other financial assets (excluding financial assets subject to any third party lending
arrangement entered into by a Trust) associated with the transaction in good deliverable form and not being aware of any facts which
would lead the Custodian or its agent to believe that the transaction will not settle in the time period ordinarily applicable to such
transactions in the applicable market.

SECTION 6A.5.     REVERSALS
OF PROVISIONAL CREDITS OR DEBITS. The Custodian shall have the right to reverse any provisional credit or debit given in connection
with the Contractual Settlement Services at any time when the Custodian believes, in its reasonable judgment, that such transaction will
not settle in accordance with its terms or amounts due pursuant thereto, will not be collectable or where the Custodian has not been provided
Proper Instructions with respect thereto, as applicable. The Trust shall be responsible for any costs or liabilities resulting from such
reversal except in circumstances where the reversal is caused by the Custodian’s failure to act in accordance with the Standard
of Care. Upon such reversal, a sum equal to the credited or debited amount shall become immediately payable by the Trust to the Custodian
and may be debited from any deposit or other account held for the benefit of the Trust.

SECTION 7.        TAX SERVICES.

SECTION 7.1     TRUST
INFORMATION. Each Trust will provide documentary evidence of its tax domicile, organizational specifics and other documentation and
information as may be reasonably required by the Custodian from time to time for tax purposes, including, without limitation, information
relating to any special ruling or treatment to which the Trust may be entitled that is not applicable to the general nationality and category
of person to which the Trust belongs under general laws and treaty obligations and documentation and information required in relation
to countries where the Trust engages or proposes to engage in investment activity or where Trust assets are or will be held.

The provision of such documentation and information
shall be deemed to be a Proper Instruction, upon which the Custodian shall be entitled to rely and act. In giving such documentation and
information, the Trust represents and warrants, to the best of its knowledge, that it is true and correct in all material respects and
that it will provide the Custodian with all necessary corrections or updates within a commercially reasonable time of becoming aware of
any changes or inaccuracies in the documentation or information supplied.

SECTION 7.2     TAX
RESPONSIBILITY. The Trust shall be liable for all taxes (including Taxes, as defined below) relating to its investment activity,
including with respect to any cash or securities held by the Custodian on behalf of the Trust or any transactions related thereto.
Subject to compliance by the Trust with its obligations under Section 7.1, the Custodian shall withhold (or cause to be
withheld) the amount of any Tax which is required to be withheld under applicable law in connection with the collection on behalf of
the Trust pursuant to this Agreement of any dividend, interest income or other distribution with respect to any security and the
proceeds or income from the sale or other transfer of any security held by the Custodian. If any Taxes become payable with respect
to any prior payment made to the Trust by the Custodian or otherwise, the Custodian shall notify the Trust promptly and thereafter
may apply any credit balance in the Trust’s deposit account to the extent necessary to satisfy such Tax obligation. The
Custodian shall reasonably facilitate each Trust’s fulfillment of tax obligations, such as executing ownership and other
certificates and affidavits for all federal and state tax purposes in connection with receipt of income or other payments with
respect to securities of each Trust held by it and in connection with transfers of securities. The Trust shall remain liable for any
tax deficiency. The Custodian is not liable for any tax obligations relating to the Trust, other than those Tax services as set out
specifically in this Section 7. The Trust agrees that the Custodian is not, and shall not be deemed to be, providing tax advice or
tax counsel. The capitalized terms “Tax” or “Taxes” means any withholding or capital gains tax, stamp duty,
levy, impost, charge, assessment, deduction or related liability, including any addition to tax, penalty or interest imposed on or
in respect of (i) cash or securities, (ii) the transactions effected under this Agreement, or (iii) the Trust.