SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-10.3
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/ex10-3.htm

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processes and procedures will be determined by Anchorage in its sole discretion, subject to this Agreement, and in accordance with applicable Law and industry best practices of comparable custodians that are chartered banks and trust companies, from time to time, and will include various measures, including without limitation a requirement for biometric authentication for each Authorized Person via an Acceptable Device, and which may include but are not limited to fingerprint, facial recognition, or voiceprint. Where the purpose of an Authenticated Instruction relates to Digital Assets, such an Authenticated Instruction is an entitlement order for purposes of Article 8 of the UCC. “Authorized Person” means a person nominated by Client, and thereafter approved by Anchorage pursuant to Section 2.1. “AVAX” means the native Digital Asset of the Avalanche network used for value transfer, transaction fees (gas), staking, and governance within the Avalanche ecosystem (including the Primary Network and supported subnets).

“Bankruptcy Event”
means the party is: (i) dissolved (other than pursuant to a consolidation, amalgamation or merger); (ii) becomes insolvent or is unable
to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due; (iii) makes a general assignment,
arrangement or composition with or for the benefit of its creditors; (iv) institutes or has instituted against it a proceeding seeking
a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’
rights, or a petition is presented for its winding-up or liquidation, and in the case of any such proceeding or petition instituted or
presented against it, such proceeding or petition: (A) results in a judgment of insolvency or bankruptcy or the entry of an order for
relief or the making of an order for its winding-up or liquidation; or (B) is not dismissed, discharged, stayed or restrained in each
case within 30 days of the institution or presentation thereof; (v) has a resolution passed for its winding-up, official management or
liquidation (other than pursuant to a consolidation, amalgamation or merger); (vi) seeks or becomes subject to the appointment of an administrator,
provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its
assets; (vii) has a secured party take possession of all or substantially all its assets or has a distress, execution, attachment, sequestration
or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession,
or any such process is not dismissed, discharged, stayed or restrained, in each case within 30 days thereafter; (viii) causes or is subject
to any event with respect to it which, under the applicable Laws of any jurisdiction, has an analogous effect to any of the events specified
in clauses (i) to (vii) (inclusive); or (ix) takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence
in, any of the foregoing acts.

“Basis Point”
means 1/100th of 1%.

“Benchmark Valuation” shall
have the meaning give to it in Section 10.4.

“Bitcoin” is a type of Digital
Asset that is the native asset of the Bitcoin network, which is peer-to-peer network of nodes which implement the Bitcoin protocol.

“Bitcoin Cash”
is a type of Digital Asset that is created and transmitted through the operations of the peer-to-peer Bitcoin Cash Network.

“Blockchain”
means software operating a distributed ledger which is maintained by a network of computers, and that records all transactions in a Digital
Asset in theoretically unchangeable data packages known as blocks, each of which are timestamped to reference the previous block so that
the blocks are linked in a chain that evidences the entire history of transactions in the Digital Asset.

“Business Day”
means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required
by law, regulation or executive order to close.

“Claim”
means any action, suit, litigation, demand, charge, arbitration, proceeding (including any civil, criminal, administrative, investigative
or appellate proceeding), hearing, inquiry, audit, examination or investigation commenced, brought, conducted or heard by or before, or
otherwise involving, any court or other governmental, regulatory or administrative body or any arbitrator or arbitration panel.

“Client Data”
means any or all of the following, and all copies thereof, regardless of the form or media: (i) Personal Information of Client or an Authorized
Person; and (ii) any Confidential Information provided or submitted by or on behalf of Client or an Authorized Person as part of the Services;
and (iii) Holdings Data. Client Data includes any modifications to, or derivative works of, the foregoing entered into any Anchorage database
as part of the Services, as well as any output generated by the Services (including the Technology Platform) relating to Client, including
in respect of Client’s Account(s), Vault(s) and Digital Assets.

“Confidential Information”
means information and technical data, which is not generally known to the public, whether disclosed directly or indirectly, in writing,
orally, or visually, that the Receiving Party knows or should know is confidential or proprietary. Examples of Confidential Information
include, but are not limited to, a Party’s products, software, websites, apps, marketing plans and materials, business strategies,
business methods, models, financial reports or projections, product plans and specifications, designs, processes, manuals, ideas, concepts,
drawings, pricing, the Fees, operational plans, know-how, employee information, shareholder information, vendor information, customer
information, and ownership or investor information, and Private Keys to access Client’s Digital Assets. Client Data and Client’s
wallet addresses and deposit and withdrawal details are Confidential Information of the Client. The existing and terms of this Agreement
(to the extent not available to the public), the API Keys, and any arbitration pursuant to this Agreement shall be confidential to both
Parties. Confidential Information shall not include any (x) information that is or becomes generally publicly available through no fault
of the Receiving Party; (y) information that the Receiving Party obtains from a third party (other than in connection with this Agreement)
that, to the Receiving Party’s best knowledge, is not bound by an obligation of confidentiality prohibiting such disclosure; or
(z) information that is independently developed or acquired by the Receiving Party without the use of Confidential Information provided
by the Disclosing Party.

“Digital Asset”
means a digital representation of value that may function as a medium of exchange or medium for investment, including the Supported Digital
Assets, and which is evidenced on, and can be electronically received and stored using distributed ledger technology. For the avoidance
of doubt, Digital Assets held by Anchorage for the Client are “Financial Assets” for purposes of the UCC and are not assets
of Anchorage.

“Direction”
means an instruction of the Client made through the Anchorage Digital Mobile Application by Authorized Persons via an Acceptable Device,
or via the Anchorage API, relating to the storage or transfer of Digital Assets. All Directions shall be Authenticated Instructions or
they shall not constitute valid Directions.

“Disabling Device”
means any device, method, token, code, program, sub-program, programming instruction or set of instructions constructed with the intention
to destroy, damage, disable, interfere with, interrupt, allow the circumvention or security of, or otherwise affect the Software, computer
programs, data files or operations in any manner without the authorization, knowledge or approval of any actual or intended user, operator,
administrator, publisher, licensor or licensee, or any worms or so called ‘Trojan Horses’, malware, or logic bombs, or any
back door, trap door or other access means or portal which would enable an entity or device to access any Software, programs, data, systems
or communications devices, without the knowledge or authorization of the owner, operator or user of the programs, data, systems or communications
devices, or any other code designated to be a virus or other form of malicious code.

“Documentation”
means all Client manuals, training and marketing materials, guides, product descriptions, product specifications, technical manuals, supporting
materials, and other information relating to the Services and provided by Anchorage to Client.

“Dogecoin”
means the decentralized, open-source Digital Asset which operates on the Dogecoin blockchain utilizing a proof-of-work consensus mechanism.

“DOT”
means the native Digital Asset of the Polkadot network used for value transfer, transaction fees, staking, and governance on the Polkadot
blockchain.

"Ether" means a type of Digital
Asset called Ether that is the native asset of the Ethereum Mainnet.

“Ethereum” can refer, depending
on the context, to either the Ethereum Mainnet itself or to the native asset of such network.

“Ethereum Mainnet” means Ethereum’s
main network and Blockchain also known as the Ethereum layer 1 (L1).

“Fee”
has the meaning provided in the Order Form.

“Fiat Services”
means services related to the custody, management, and Directions related to fiat currencies owned by Client and held for Client’s
benefit by Anchorage, including (i) holding Client’s fiat currency in an omnibus banking account held for the benefit of Anchorage’s
clients, and (ii) transferring Client’s fiat currency as directed by Client or other Client designee.