SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-3.1
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/ex3-1.htm

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and each Shareholder by virtue of its purchase of Shares of the Trust, (i) express their intent that the Shares of the Trust qualify under applicable tax law as interests in a partnership, and (ii) agree to file or cause to file U.S. federal, state and local income, franchise and other tax returns in a manner that is consistent with the treatment of the Trust as a partnership in which each of the Shareholders thereof is a partner. The Sponsor and the Shareholders will make or refrain or cause to make or refrain from making any tax elections to the extent necessary to obtain treatment consistent with the foregoing. The Sponsor shall not be liable to any Person for the failure of the Trust to qualify as a partnership under the Code or any comparable provision of the laws of any State or other jurisdiction where such treatment is sought.

The Sponsor shall obtain a separate federal taxpayer identification number for the Trust prior to the commencement of the
Trust’s operations. The Sponsor, at the Trust’s expense, shall prepare or cause to be prepared all federal, state, and local
tax returns of the Trust for each year for which such returns are required to be filed and shall timely file or cause to be timely filed
such returns and timely pay or cause to be timely paid, out of the Trust Property, any taxes, assessments or other governmental charges
owing with respect to the Trust. The Trustee and the Administrator shall promptly notify the Sponsor if it becomes aware that any tax,
assessment or other governmental charge is due or claimed to be due with respect to the Trust. The Sponsor shall deliver or cause to be
delivered to each Shareholder of the Trust and the broker or nominee through which a Shareholder owns the Shares an IRS Schedule K-1 and
such other information, if any, with respect to the Trust as may be necessary for the preparation of the federal income tax or information
returns of such Shareholder, including a statement showing the Shareholder’s share of the Trust’s items of income, gain, loss,
expense, deduction and credit for the Fiscal Year for federal income tax purposes, as soon as practicable after the last day of the Fiscal
Year but not later than March 15 of the following year or as otherwise required by applicable laws and regulations.

The Sponsor may, in its sole discretion, cause the Trust to make, or refrain from making, any tax elections that the Sponsor
reasonably deems necessary or advisable, including, but not limited to, an election pursuant to Section 754 of the Code.

(i)      Each Shareholder of a Share of the Trust, by its acceptance
or acquisition of a beneficial interest therein, agrees to furnish the Sponsor with such representations, forms, documents or other information
as may be necessary to enable the Trust to comply with its U.S. federal income tax reporting obligations in respect of such Share, including
an IRS Form W-9 (or the substantial equivalent thereof) in the case of a Shareholder that is a United States person within the meaning
of the Code or an IRS Form W-8BEN or other applicable form in the case of a Shareholder that is not a United States person. The Trust
shall file any required forms with applicable jurisdictions and, unless an exemption from withholding and backup withholding tax is properly
established by a Shareholder, shall remit amounts withheld with respect to the Shareholder to the applicable tax authorities.

To the extent that the Sponsor reasonably believes that the Trust is required to withhold and pay over any amounts (including
taxes, interest, penalties, assessments or additions to tax) to any tax authority with respect to distributions, allocations or adjustments
to any Shareholder, the Trust may withhold such amounts and treat the amounts withheld as distributions of cash to the Shareholder in
the amount of the withholding and reduce the amount of cash or other property otherwise distributable to such Shareholder. If an amount
required to be withheld was not withheld, the Trust may reduce subsequent distributions to such Shareholder by the amount of such required
withholding. In the event of any claimed over-withholding, Shareholders shall be limited to an action against the applicable jurisdiction.

(iii)     Notwithstanding any other provision of this Trust Agreement, the Sponsor is authorized to take any action that may be required
to cause the Trust to comply with any withholding requirements established under the Code or any other federal, state, local or foreign
law including pursuant to Sections 1441, 1442, 1445 and 1446 of the Code. To the extent that the Trust is required or elects to withhold
and pay over to any taxing authority any amount resulting from the allocation, distribution or adjustment of income to any Shareholder
(including by reason of section 1446 of the Code), the Sponsor may treat the amount withheld as a distribution of cash to such Shareholder
for purposes of this Trust Agreement in the amount of such withholding. Any increase or decrease in withholding tax incurred by the Trust
resulting from the identity, nationality, residence or status of a Shareholder shall be allocable to and reduce the distributions of such
Shareholder.

By its acceptance of a beneficial interest in a Share, a Shareholder waives all confidentiality rights, including all confidentiality
rights provided by Section 3406(f) of the Code and Treasury Regulations section 31.3406(f)-1, with respect to any representations, forms,
documents or information, and any information contained in such representations, forms or documents, that the Shareholder provides, or
has previously provided, to any broker or nominee through which it owns its Shares, to the extent such representations, forms, documents
or information may be necessary to enable the Trust to comply with its withholding tax and backup withholding tax and information reporting
obligations or to satisfy any other legal requirements with respect to the Shares. Furthermore, the parties hereto, and a Shareholder
by its acceptance or acquisition of a beneficial interest in a Share, acknowledge and agree that any broker or nominee through which a
Shareholder holds its Shares shall be a third-party beneficiary to this Trust Agreement for the purposes set forth in this Section 6.1.