SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-8.1
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/ex8-1.htm

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T.Rowe Price Active Crypto ETF S-1A

Exhibit 8.1

April 27, 2026

T. Rowe Price Associates, Inc.

1307 Point Street

Baltimore, MD 21231

Dear Ladies and Gentlemen:

We are acting as U.S. tax counsel to T. Rowe Price Active Crypto ETF
(the “Trust”), a Delaware statutory trust, formed on September 15, 2025, pursuant to the Delaware Statutory Trust Act,
in connection with the preparation of a Registration Statement on Form S-1 (the “Registration Statement”) filed with
the Securities and Exchange Commission (the “SEC”) on or about the date hereof.

In rendering this opinion, we have examined the Registration Statement
and such other documents and materials as we have deemed necessary or appropriate to review for purposes of our opinion and have made
such investigations of law as we have deemed appropriate as a basis for the opinion expressed below. In addition, in rendering this opinion,
we have relied upon and have assumed, with your permission, the accuracy of the statements contained in the Registration Statement, and
that the Trust will operate in the manner discussed in its organizational documents and the prospectus included in the Registration Statement
(the “Prospectus”). Capitalized terms used but not defined herein have the meaning ascribed to them in the Prospectus.

Our opinion is based on the U.S. Internal Revenue Code of 1986, as
amended, the U.S. Treasury Regulations promulgated thereunder, and administrative and judicial interpretations thereof, all as of the
date hereof and all of which are subject to change, possibly on a retroactive basis. In rendering this opinion, we are expressing our
views only as to United States federal income tax law.

Based on and subject to the foregoing, the discussion relating to tax
matters under the heading “U.S. Federal Income Tax Consequences” in the Prospectus (subject to the qualifications contained
therein) expresses our opinion as to the material aspects of the United States federal income tax treatment to a Shareholder, as of the
date hereof, of the acquisition, ownership and disposition of a Share pursuant to the Prospectus.

Our opinion relies on, and is subject to, the facts, representations
and assumptions set forth or referenced herein. Any inaccuracy or subsequent change in such facts, representations or assumptions could
adversely affect our opinion.

We hereby consent to the filing with the SEC of this letter as an exhibit
to the Registration Statement and the reference to this letter and to us under the heading “U.S. Federal Income Tax Consequences”
in the Prospectus. In giving such consent, we do not thereby admit that we are within the category of persons whose consent is required
under Section 7 of the Securities Act of 1933.

Very truly yours,

/s/ Dechert LLP