SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-1.1
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/ex1-1.htm

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determination of NAV is suspended and until such suspension is terminated, no further orders for Shares shall be accepted by the Distributor except such unconditional orders placed with the Distributor before it had knowledge of the suspension. In addition, the Trust reserves the right to suspend sales and Distributor’s authority to accept orders for Shares if, in the judgment of the Trust or its Sponsor, it is in the best interests of the Trust to do so, such suspension to continue for such period as may be determined by the Trust upon notice to the Distributor; and in that event, no orders to purchase Shares shall be processed or accepted by the Distributor on behalf of the Trust while such suspension remains in effect except for Shares necessary to cover unconditional orders accepted by Distributor before it had knowledge of the suspension, unless otherwise directed by Trust or its Sponsor.

6.       Solicitation
of Orders. In consideration of the rights granted to the Distributor under this Agreement, Distributor will use its best efforts
(but only in states in which Distributor may lawfully do so) to obtain from Authorized Participants unconditional orders for Shares
authorized for issuance by the Trust and registered under SA-33, provided that Distributor may in its discretion reject any order to
purchase Shares. This does not obligate the Distributor to register or maintain its registration as a broker or dealer under the
state securities laws of any jurisdiction if, in the discretion of the Distributor, such registration is not practical or feasible.
The Trust shall make available to the Distributor, at the expense of the Sponsor, such number of copies of the Trust’s
Registration Statement as the Distributor may reasonably request. The Trust shall furnish to the Distributor copies of all
information, financial statements, and other papers which the Distributor may reasonably request for use in connection with the
distribution of Shares. With respect to all OUS Activities, the Distributor shall require the applicable Foreign Affiliate to comply
with all country-specific laws, regulations, and licensing and registration requirements.

7.       Authorized
Representations. The Trust is not authorized by the Distributor to give, on behalf of the Distributor, any information or to
make any representations other than the information and representations contained in a Registration Statement filed with the SEC under

Neither Distributor nor any
selected dealer nor any other person, including a Foreign Affiliate, if applicable, is authorized by the Trust to give any information
or to make any representations in connection with the sale of Shares other than the information and representations contained in a Registration
Statement filed, or contained in shareholder reports or other material that may be prepared by the Trust, its Sponsor, or the Administrator.
This shall not be construed to prevent the Distributor from preparing and distributing tombstone ads and Sales Literature (as defined
below) or other material as it may deem appropriate. No person other than Distributor is authorized to act as distributor for the Trust.

8.       Registration
and Sale of Additional Shares. The Trust will, from time to time, use its best efforts to register under SA-33, such Shares of the
Trust as Distributor may reasonably be expected to sell on behalf of the Trust. The Trust will, in cooperation with the Distributor, take
such action as may be necessary from time to time to qualify such Shares (so registered or otherwise qualified for sale under SA-33),
in any state mutually agreeable to the Distributor and the Trust, and to maintain such qualification. The Distributor does not agree to
sell any specific number of Shares. Shares will be sold to the Distributor, as agent for the Trust, only against orders therefor. The
Distributor will not purchase Shares from anyone other than the Trust except that it will purchase Creation Units of Shares from Authorized
Participants as agent for the Trust upon the tender of one or more Creation Units for redemption. With respect to all OUS Activities,
the Distributor shall require the applicable Foreign Affiliate to comply with all country-specific laws, regulations, and licensing and
registration requirements.

9.       Manner
of Offering. The Distributor agrees to furnish to the Trust, upon request, sufficient copies of any “Sales Literature”
(such as advertisements, brochures, free writing prospectuses, and shareholder communications) it intends to use in connection with any
sales of Shares. The Distributor agrees that, to the extent required by applicable law, rule or regulation, it will: (i) file all Sales
Literature with the proper authorities before they are put in use; and (ii) not to use such Sales Literature until so filed and cleared,
if required.

The Distributor shall, directly
or indirectly through the Transfer Agent, receive and process orders for purchases and redemptions of Creation Units of the Trust from
participants in the Depository Trust Corporation (“DTC” and such participants, “DTC Participants”)
or participants in the Continuous Net Settlement System of the National Securities Clearing Corporation that have executed an Authorized
Participant Agreement with Authorized Participants and the Distributor and the Transfer Agent of the Trust (“Clearing Process”).
The Distributor shall work with the Transfer Agent to review and accept or reject orders placed by Authorized Participants and transmitted
to or by the Distributor by or to the Transfer Agent, in accordance with the Registration Statement.

The Distributor shall provide
to, or cause to be provided to, the Trust’s listing exchange, copies of Registration Statement to be provided to purchasers in the
secondary market. The Distributor will generally make it known in the brokerage community that Prospectuses are available, including by
(i) advising the listing exchanges on behalf of its member firms of the same, (ii) making such disclosure in all marketing and advertising
materials prepared and/or filed by the Distributor with FINRA, and (iii) as may otherwise be required by the SEC.

The Trust agrees to
issue Creation Units of Shares and Distributed Shares, as the case may be, and to request DTC to record on its books the ownership
of the Shares constituting such Creation Units in accordance with the book-entry system procedures described in the Prospectus
relating to the Trust in such amounts as the Distributor has requested through the Transfer Agent in writing or other means of data
transmission, as promptly as practicable after receipt by the Trust of the requisite Deposit Basket holdings and cash component
(together with any fees) and acceptance of such order, upon the terms described in the Prospectus. The Trust may reject any order
for Creation Units or stop all receipts of such orders at any time upon reasonable notice to the Distributor, in accordance with the
provisions of the Registration Statement.

10.       Fees
and Expenses. The Fund’s Sponsor shall pay all fees and expenses:

connection with the preparation, setting in type and filing of any registration under SA-33, and any amendments or supplements that may
be made from time to time;

connection with the registration and qualification of Shares for sale in the various states in which the Trust shall determine it advisable
to qualify such Shares for Sale (including registering the Trust as a broker or dealer or any officer of the Trust or other person as
agent or salesman of the Trust in any state);

preparing, setting in type, printing and mailing any report or other communication to shareholders of the Trust in their capacity as such;

preparing, setting in type, printing and mailing Registration Statements annually to existing shareholders;

connection with the issue and transfer of Shares resulting from the acceptance by Distributor of orders to purchase Shares placed with
the Distributor by investors, including the expenses of confirming such purchase orders;

printing and distributing any Registration Statement or reports prepared for its use in connection with the distribution of Shares to
the public;

preparing, setting in type, printing and mailing any other Sales Literature used by the Distributor in connection with the distribution
of the Shares to the public;

advertising in connection with the distribution of such Shares to the public;

i.       incurred
in connection with its registration as a broker or dealer or the registration or qualification of its officers, directors, or representatives
under federal and state laws; and

j.       incurred
in connection with the sale and offering for sale of Shares which have not been herein specifically allocated to the Trust.

Notwithstanding the above,
the Trust shall be responsible for interest, taxes, brokerage commissions and other charges incident to the purchase, sale or lending
of portfolio holdings, directors’ fees and expenses (including counsel fees and expenses) and such non-recurring or extraordinary
expenses that may arise, including the costs of actions, suits or proceedings to which the Trust is a party and the expenses the Trust
may incur as a result of its obligation to provide indemnification to the Distributor.

No compensation shall be due or payable by the
Trust to the Distributor pursuant to this Agreement.