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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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.

SECTION 7.3     TAX RELIEF.
The Custodian will provide tax relief services in relation to designated markets as may be specified from time to time in the Client Publications.
Subject to the preceding sentence and compliance by the Trust with its obligations under Section 7.1, the Custodian will file claims
for exemptions, reductions of withholding tax, and refunds of any tax paid or tax credits which apply in each applicable market (domestic
or foreign) in respect of income payments on securities for the benefit of the Trust. The Custodian shall provide information on reduction
at source and tax reclaim processing in its Tax Entitlement Service Overview made available to the Trust on the Custodian’s customer
portal, “my.statestreet.com.” The Custodian shall maintain tax entitlement accruals for possible tax benefits available in
markets of investment and monitor tax entitlements and tax reclaim accruals based on existing situations in markets of investment with
respect to the Trust’s entitlements. The Custodian shall facilitate communications to the Trust’s local tax consultants and
foreign sub-custodians with respect to reporting, payment and filing requirements regarding capital gains processing. Unless otherwise
informed by the Trust, the Custodian shall be entitled to apply categorical treatment of the Trust according to its nationality, particulars
of its organization and other relevant details supplied by the Trust.

SECTION 8.	PAYMENTS FOR SALES OR REDEMPTIONS OF TRUST
INTERESTS .

Section
8.1     PAYMENT FOR SHARES ISSUED. If a Trust shall sell any Shares, the Trust shall deliver instructions, or cause the Trust’s
transfer agent to provide instructions, to the Custodian, specifying the amount of cash, if any, to be received by the Custodian in connection
with the sale of such Shares and specifically allocated to the Trust’s account. The Custodian will provide timely notification to
the Trust and its transfer agent of any receipt of the cash payments by the Custodian.

Section
8.2     PAYMENT FOR SHARES REDEEMED. Whenever the Trust desires Custodian to make a payment, if any, out of cash held by
Custodian hereunder in connection with a redemption of any Shares, the Trust shall deliver instructions, or cause the Trust’s transfer
agent to provide instructions, to the Custodian, specifying the total amount of cash, if any, to be paid, for the redemption of such Shares,
and the Custodian shall make such payment out of the cash held in the Trust’s Account in accordance with such instructions.

SECTION 9.	PROPER INSTRUCTIONS .

SECTION 9. 1     FORM AND
SECURITY PROCEDURES. Proper Instructions may be in writing signed by the authorized individual or individuals or may be in a tested
communication or in a communication utilizing access codes effected between electro-mechanical or electronic devices or may be by such
other means and utilizing such intermediary systems and utilities as may be agreed to from time to time by the Custodian and the individual
or organization giving the instruction, provided that the Trust has followed any security procedures agreed to from time to time by the
applicable Trust and the Custodian. The Custodian may agree to accept oral instructions in accordance with agreed security procedures,
and in such case oral instructions will be considered Proper Instructions. The applicable Trust shall cause all oral instructions to be
confirmed in writing, provided that the Trust’s failure to do so shall not impact the Custodian’s authority to rely on such
oral instructions. The Custodian shall only accept instructions from the person or persons on the current list of authorized persons as
provided or agreed to by the applicable Trust in writing and as may be amended from time to time.

SECTION 9.2     RELIANCE
ON OFFICER’S CERTIFICATE. Concurrently with the execution of this Agreement, and from time to time thereafter, as appropriate,
each Trust shall deliver to the Custodian an officer’s certificate setting forth the names, titles, signatures and scope of authority
of all individuals authorized to give Proper Instructions or any other notice, request, direction, instruction, certificate or instrument
on behalf of the Trust. The certificate may be accepted and conclusively relied upon by the Custodian and shall be considered to be in
full force and effect until receipt by the Custodian of a similar certificate to the contrary and the Custodian has had a reasonable time
to act thereon.

SECTION 9.3     UNTIMELY
PROPER INSTRUCTIONS. If the Custodian is not provided with reasonable time to execute a Proper Instruction (including any Proper Instruction
not to execute, or any other modification to, a prior Proper Instruction), the Custodian will use good faith efforts to execute the Proper
Instruction but will not be responsible or liable if the Custodian’s efforts are not successful (including any inability to change
any actions that the Custodian had taken pursuant to the prior Proper Instruction).

SECTION 10.	ACTIONS PERMITTED WITHOUT EXPRESS AUTHORITY .

The Custodian may in its discretion, without express
authority from the applicable Trust:

1)	Make payments to itself or others for minor, normal, routine expenses to
facilitate the settlement of securities transactions that are customary in the market in which the Trust trading and relating to its duties
under this Agreement; provided that all such payments shall be accounted for to the Trust;

2)	Surrender securities or other financial assets in temporary form for securities
or other financial assets in definitive form;

3)	Endorse for collection, in the name of the Trust, checks, drafts and other
negotiable instruments; and

4)	In general, attend to all non-discretionary details in connection with the
sale, exchange, substitution, purchase, transfer and other dealings with the securities and other financial assets of the Trust except
as otherwise directed by the Sponsor.

SECTION 11.	RESERVED .

SECTION 12.	RECORDS .

The Custodian shall with respect to each Trust
create and maintain all records relating to its activities and obligations under this Agreement in such manner as may be agreed to from
time to time by the applicable Trust and the Custodian. All such records shall be the property of the applicable Trust and shall at all
times during the regular business hours of the Custodian be open for inspection by duly authorized officers, employees or agents of the
Trust and employees and agents of the SEC. The Custodian shall, at any Trust’s request, supply the Trust with a tabulation of securities
owned by each Trust and held by the Custodian and shall, when requested to do so by the Trust and for such compensation as shall be agreed
upon between the Trust and the Custodian, include certificate numbers in such tabulations. In the event that the Custodian is requested
or authorized by a Trust, or required by subpoena, administrative order, court order or other legal process, applicable law or regulation,
or required in connection with any investigation, examination or inspection of the Trust by state or federal regulatory agencies, to produce
the records of the Trust or the Custodian’s personnel as witnesses, the Trust agrees to pay the Custodian for the Custodian’s
reasonable time and expenses, as well as the reasonable fees and expenses of the Custodian’s counsel, incurred in responding to
such request, order or requirement. The Custodian shall, to the extent permitted by law, provide notice to the applicable Trust promptly
(in view of all the facts and circumstances) after receipt of any request for records relating to any investigation, examination or inspection
of the Trust by the Trust’s supervisory or regulatory authorities. The Custodian shall provide the applicable Trust with an update
on the fees and expenses incurred in responding to any such requests for records and shall cooperate in any efforts of the Trust or its
designee to seek a protective order to the extent permitted by law and reasonably requested at the Trust’s expense.

SECTION 13.	TRUST’S INDEPENDENT ACCOUNTANTS; REPORTS .

SECTION 13.1     OPINIONS.
The Custodian shall take all reasonable action, as a Trust may from time to time request, to obtain from year to year favorable opinions
from the Trust’s independent accountants with respect to its activities hereunder.