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: 2026-02-11
Accession Number: 0001999371-26-003054
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2089855/000199937126003054/active-s1a_021126.htm

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taken or for refraining from the taking of any action in good faith pursuant to the Trust Agreement, or for errors in judgment or for depreciation or loss incurred; provided, however, that Section 3.4 of the Trust Agreement shall not protect the Sponsor against any liability to which it would otherwise be subject by reason of its own gross negligence, bad faith, or willful misconduct. The Sponsor may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by any other Person (as defined in the Trust Agreement) for any matters arising hereunder. The Sponsor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Shareholder or to the Trustee other than as expressly provided for in the Trust Agreement.

Section 2.6 of the Trust Agreement
provides that the Trustee (individually and in its capacity as such) and any officer, Affiliate(as defined in the Trust Agreement),
director, employee, or agent of the Trustee (each an “Indemnified Person”) shall be entitled to indemnification from
the Fund, to the fullest extent permitted by law, from and against any and all losses, claims, taxes, damages, reasonable expenses,
and liabilities (including the reasonable fees and expenses of counsel and fees and expenses incurred in connection with enforcement
of its indemnification rights hereunder, and including liabilities under state or federal securities laws) of any kind and nature
whatsoever (collectively, “Expenses”), to the extent that such Expenses arise out of or are imposed upon or asserted
against such Indemnified Persons with respect to the creation, operation or termination of the Fund, the execution, delivery or
performance of this Trust Agreement or the transactions contemplated hereby; provided, however, that the Fund shall not be required
to indemnify any Indemnified Person for any Expenses which are a result of the willful misconduct, bad faith or gross negligence
of such Indemnified Person. The obligations of the Fund to indemnify the Indemnified Persons as provided herein shall survive the
termination of this Trust Agreement and the resignation or removal of the Trustee. If the Fund shall have insufficient assets or
improperly refuses to pay an Indemnified Person within sixty (60) days of a request for payment owed hereunder, the Sponsor shall,
as secondary obligor, compensate or reimburse the Trustee or indemnify, defend and hold harmless an Indemnified Person as if it
were the primary obligor hereunder; provided, however, that the Sponsor shall not be required to indemnify any Indemnified Person
for any Expenses which are a result of the willful misconduct, bad faith or gross negligence of an Indemnified Person.

Item 15. Recent Sales of Unregistered
Securities.

None

Item 16. Exhibits.

Exhibit No. Description

3.1* Trust Agreement

3.2** Certificate of Trust

5.1* Opinion of Dechert LLP, as to legality

10.1* Form of Sponsor Agreement

10.2* Form of Authorized Participant Agreement

10.3* Form of Crypto Custodian Agreement

10.4* Form of Cash Custodian Agreement

10.5* Form of Distribution Agreement

10.6* Agent

10.7* Form of Administration Agreement

10.8* Form of Seed Capital Investor Subscription Agreement

10.9* Form of Crypto Trading Counterparty Agreement

23.1* Consent of Independent Registered Public Accounting Firm

23.2* Consent of Dechert LLP (included in Exhibit 5.1)

107** Filing Fee Table

*	To be filed by amendment

**	Previously filed

Item 17. Undertakings.

(a)     The
undersigned registrant hereby undertakes:

file, during any period in which offers, or sales are being made, a post-effective amendment to this registration statement:

include any prospectus required by section 10(a)(3) of the Securities Act of 1933;

reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent
change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective
registration statement.

(iii)   To include
any material information with respect to the plan of distribution not previously disclosed in the registration statement or any
material change to such information in the registration statement.

Provided, however, that paragraphs
(a)(1)(i), (ii), and (iii) of this section do not apply if the registration statement is on Form S-1 and the information
required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished
to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934
that are incorporated by reference in the registration statement.

(2)    That,
for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.

remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold
at the termination of the offering.

(4)    That,
for the purpose of determining liability under the Securities Act of 1933 to any purchaser:

the registrant is subject to Rule 430C, each prospectus filed pursuant to Rule 424(b) as part of a registration
statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed
in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first
used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the
registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or
prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first
use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration
statement or made in any such document immediately prior to such date of first use.

(5)    That,
for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial
distribution of the securities:

The undersigned registrant
undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless
of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser
by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered
to offer or sell such securities to such purchaser:

(i)     Any
preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

(ii)    Any
free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to
by the undersigned registrant;

(iii)   The portion
of any other free writing prospectus relating to the offering containing material information about the undersigned registrant
or its securities provided by or on behalf of the undersigned registrant; and

(iv)   Any
other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

(6)    Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and
controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that
in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment
by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities
being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Act and will be governed by the final adjudication of such issue.]

Signatures