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

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PRICE ASSOCIATES, INC. 1307 Point Street Baltimore, MD 21231 Attention: General Counsel with a copy to: T. Rowe Price Sponsor LLC 1307 Point Street Baltimore, MD 21231 Attention: Secretary To the Custodian: STATE STREET BANK AND TRUST COMPANY One Congress Street Boston, MA, 02114 Attention: Corey Groves Telephone: 1 978 735 9283 with a copy to: STATE STREET BANK AND TRUST COMPANY Legal Division – Global Services Americas One Congress Street Boston, MA 02114 Attention: Senior Vice President and Senior Managing Counsel SECTION 20.9 COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, and all such counterparts taken together shall constitute one and the same Agreement. Counterparts may be executed in either original or electronically transmitted form (e.g., faxes or emailed portable document format (PDF) form), and the parties hereby adopt as original any signatures received in electronically transmitted form.

SECTION 20.10     SEVERABILITY;
NO WAIVER. If any provision of this Agreement shall be held to be invalid, unlawful or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired. The failure of a party hereto to insist upon strict adherence
to any term of this Agreement on any occasion or the failure of a party hereto to exercise or any delay in exercising any right or remedy
under this Agreement shall not constitute a waiver of any the term, right or remedy or a waiver of any other rights or remedies, and no
single or partial exercise of any right or remedy under this Agreement shall prevent any further exercise of the right or remedy or the
exercise of any other right or remedy.

SECTION 20.11      CONFIDENTIALITY.
All information provided under this Agreement by or on behalf of a party (the “Disclosing Party”) to the other party (the
“Receiving Party”), whether in written, electronic or oral form, including, without limitation, information regarding the
Disclosing Party’s business, operations or finances (“Confidential Information”) shall be treated as confidential.
For the avoidance of doubt, all portfolio holdings and trading information of each Trust shall constitute Confidential Information of
the Trust. The Receiving Party shall keep confidential and protect from unauthorized disclosure or misuse the Disclosing Party’s
Confidential Information with the same degree of care as it would employ with respect to its own information of like importance which
it does not desire to have published or disseminated, but in no event less than a reasonable degree of care. Subject to Section 20.12
below, all Confidential Information provided under this Agreement by Disclosing Party shall be used, including disclosure to third parties,
by the Receiving Party, or its agents or service providers, solely for the purpose of performing or receiving the services and discharging
the Receiving Party’s other obligations under the Agreement or managing the business of the Receiving Party and its Affiliates
(as defined in Section 20.12 below), including financial and operational management and reporting, risk management, and legal and regulatory
compliance. The Receiving Party shall not use any Confidential Information of the Disclosing Party for the Receiving Party’s own
purposes, including marketing, customer research, or market analytics, whether or not on an anonymized or aggregate basis. The Custodian
shall not use any Confidential Information of the Trust for any investment or trading purpose and shall maintain policies, procedures
and other measures, including a code of ethics or similar policy, consistent with industry best practices, to ensure compliance with
all applicable securities laws by it and any other entity or individual with access to portfolio holdings or trading information. The
foregoing shall not be applicable to any information (a) that is publicly available when provided or thereafter becomes publicly available,
other than through a breach of this Agreement, (b) that is independently derived by the Receiving Party without the use of any information
provided by the Disclosing Party in connection with this Agreement, (c) that is disclosed to comply with any legal or regulatory
proceeding, investigation, audit, examination, subpoena, civil investigative demand or other similar process (provided that, unless prohibited
by law or regulation, promptly on receipt of any order compelling such disclosure, the Receiving Party shall notify the Disclosing Party
in writing of such requirement to disclose so that the Disclosing Party has a reasonable opportunity to obtain a protective order
at the Disclosing Party’s expense), (d) that is disclosed as required by operation of law or regulation or as required to
comply with the requirements of any market infrastructure that the Disclosing Party or its agents direct the Custodian or its affiliates
to employ (or which is required in connection with the holding or settlement of instruments included in the assets subject to this Agreement),
or (e) where the party seeking to disclose has received the prior written consent of the party providing the information, which
consent shall not be unreasonably withheld. The parties agree that unauthorized disclosure of Confidential Information may cause
irreparable damage to the Disclosing Party and, therefore, in such cases, the Receiving Party agrees to waive any defense that an adequate
remedy at law is available if the Disclosing Party seeks to obtain injunctive relief against any such breach or any threatened breach.
Each party will be responsible for any use or disclosure of Confidential Information of the Disclosing Party in breach of this Agreement,
by its Representatives (as defined below) as though such party had used or disclosed such Confidential Information itself. Upon expiration
or termination of this Agreement, upon the request of the Disclosing Party, all copies of Confidential Information of the Disclosing
Party shall be destroyed or returned to the Disclosing Party, at the Disclosing Party’s discretion. Notwithstanding the foregoing,
a Receiving Party may retain copies of the Disclosing Party’s Confidential Information and shall have no obligation to destroy
or return such copies to the extent the Receiving Party maintains such information in accordance with this Agreement and such retention
is required pursuant to (i) applicable laws, regulations, or regulatory authority, (ii) the Receiving Party’s internal policies
and procedures, or (iii) the Receiving Party’s routine archiving and electronic backup and storage policies and systems.

SECTION 20.12     USE OF DATA.

SECTION 20.12.1 In connection
with the provision of the services and the discharge of its other obligations under this Agreement, the Custodian (which term for purposes
of this Section 20.12 includes each of its parent company, branches and affiliates (“Affiliates”)) may collect and store
information regarding a Trust and share such information with its Affiliates, agents, consultants, employees, attorneys, accountants,
service providers, sub-custodians and other similar advisors that have a reasonable need to know such Confidential Information for purposes
of meeting Custodian’s obligations under this Agreement (“Representatives”) in order and to the extent reasonably necessary
(i) to carry out the provision of services contemplated under this Agreement and other agreements between the Trust and the Custodian
or any of its Affiliates and (ii) to carry out management of its businesses, including, but not limited to, financial and operational
management and reporting, risk management, legal and regulatory compliance, and internal client service management purposes of the Custodian
and its Affiliates.

SECTION 20.12.2 Except as
expressly contemplated by this Agreement, nothing in Sections 20.11 and 20.12 shall limit the confidentiality and data-protection obligations
of the Custodian and its Affiliates under this Agreement and applicable law. The Custodian shall cause any Affiliate or Representative
to which it has disclosed Confidential Information pursuant to this Agreement to comply at all times with confidentiality and data-protection
obligations under this Agreement as if it were a party to this Agreement.

SECTION
20.13     DATA PRIVACY. The Custodian will implement and maintain a written information security program that contains appropriate
security measures to safeguard the personal information of the Trust’s shareholders, employees, directors and officers that the
Custodian receives, stores, maintains, processes or otherwise accesses in connection with the provision of services hereunder. The term,
“personal information”, as used in this Section, means (a) an individual’s name (first initial and last
name or first name and last name), address or telephone number plus (i) Social Security number, (ii) driver’s license number, (iii)
state identification card number, (iv) debit or credit card number, (v) financial account number or (vi) personal identification number
or password that would permit access to a person’s account, or (b) any combination of any of the foregoing that would allow a person
to log onto or access an individual’s account. The term does not include information that is lawfully obtained from publicly available
information, or from federal, state or local government records lawfully made available to the general public.