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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or jurisdictions, or otherwise in violation of any Sanctions Laws, prior to any onward transfer to the Client’s Account(s) at Anchorage; (d) Anchorage complies with all applicable Laws, including U.S. securities laws and regulations, as well as AML Laws, Sanctions Laws, banking laws, and any other laws and regulations to which it is subject; (e) It possesses and will maintain, all licenses, registrations, authorizations and approvals required by any applicable government agency or regulatory authority for it to operate its business and provide the Services; (f) It is and shall remain in good standing with all relevant government agencies, departments, regulatory and supervisory bodies to the extent relevant and material to its performance hereunder, and it will, to the extent permitted under applicable Law and by such relevant government agency, department, regulatory and supervisory body, promptly notify Client if it ceases to be in good standing with any regulatory authority;

(g)	It shall promptly provide information as the Client may reasonably request in writing from time to time
in connection with its provision of the Services, to the extent reasonably necessary for the Client to comply with any applicable Laws,
rules, and regulations (including money laundering statutes, regulations and conventions of the United States or other jurisdictions),
or the guidance or direction of, or request from, any regulatory authority or financial institution, in each case related to its performance
hereunder and to the extent that providing such information is not prohibited by applicable Law;

(h)	It has all rights necessary to provide Client with access to the Technology Platform and any other tech/data
provided by Anchorage (the “ Anchorage Tech ”) as contemplated herein; and the intended use by Client of the Anchorage
Tech as described in and in accordance with this Agreement shall not infringe, violate or misappropriate the Intellectual Property Rights
of any third party;

(i)	Anchorage and each Anchorage Affiliate has policies and procedures in place that are designed to mitigate
conflicts of interest. Anchorage and each Anchorage Affiliate will maintain appropriate and effective arrangements to eliminate or manage
conflicts of interest, including segregation of duties, information barriers and training. Anchorage will notify Client, on behalf of
itself and each Anchorage Affiliate, in accordance with the notice provisions hereof of changes to its or such Affiliate’s business
that are material to its or its Affiliate’s ability to manage its conflicts of interest;

(j)	Anchorage shall only permit the transfer of Digital Assets to Client's Account from, or withdraw assets
from Client's Account to, a public wallet address on the Blockchain that Anchorage has onboarded through its AML Program and performed
sanctions screening on, including with blockchain analytics software (such address, a "whitelisted address");

(k)	Anchorage shall comply with all applicable anti-slavery and human trafficking Laws, statutes, codes and
regulations from time to time in force, including with respect to recruitment practices, the possession of identity documents, forced
labor, child labor, the non- payment of wages, workplace conditions and other indicators of slavery and human trafficking. Anchorage warrants
and represents that, having made reasonable enquiries and to the best of its knowledge and belief: (i) it has not been convicted of any
offense involving slavery and human trafficking or been the subject of any investigation, inquiry or enforcement proceedings regarding
any offence or alleged offence of or in connection with slavery and human trafficking; and (ii) has not been or is not the subject of
any investigation, inquiry or enforcement proceedings by any governmental, administrative or regulatory
body regarding any offense or alleged offense of or in connection with slavery and human trafficking; and

(l)	In connection with the performance of its obligations under this Agreement, Anchorage has complied with,
and will comply with during the Term of this Agreement, all U.S. anti-corruption Laws, including without limitation, the U.S. Foreign
Corrupt Practices, the U.S. Patriot Act, and the U.K. Bribery Act 2010, as well as the relevant sections of Client’s ethics, anti-bribery
and corruption policies, including its code of ethics.

6.3.	Client Representations and Warranties . The Client represents, warrants and covenants as of the
Effective Date and as of each Direction from Client provided hereunder that:

(a)	Client has policies and procedures in place reasonably designed to maintain compliance with all applicable
Laws to the extent relevant and material to its performance hereunder, including U.S. securities laws and regulations, as well as AML
Laws, to the extent relevant and material to its performance hereunder;

(b)	Client is and shall remain in good standing with all relevant government agencies, departments, regulatory,
and supervisory bodies to the extent relevant and material to its performance hereunder;

(c)	Client shall promptly provide information as Anchorage may reasonably request in writing from time to
time regarding: Client’s use of the Services to the extent reasonably necessary for Anchorage to comply with any applicable Laws,
rules, and regulations (including money laundering statutes, regulations and conventions of the United States), or the guidance or direction
of, or request from, any regulatory authority or financial institution, in each case related to its performance hereunder, provided that
such information may be redacted to remove Confidential Information not relevant to the requirements of this Agreement;

(d)	Client’s use of the Services shall be for commercial, business purposes only;

(e)	Client is, and will at all times remain, the owner or beneficial owner of all Digital Assets handled under
this Agreement, subject only to liens and encumbrances granted to Anchorage pursuant to this Agreement, if any, or otherwise created as
part of the Client’s business; and

(f)	any Digital Assets or fiat currency deposited into any Account are not to Client's knowledge proceeds
of a crime.

6.4.	The Agent represents to Anchorage, that the Client: (a) has duly authorized Agent to execute and deliver
the Agreement on behalf of such Client; and (b) has the power to so authorize Agent.

6.5.	Notwithstanding anything to the contrary contained in this Agreement or any annex, schedule, addendum,
confirmation or other document issued or delivered in connection with any transaction hereunder, Anchorage acknowledges and agrees that:

(a)	Agent is acting in connection with any transaction hereunder solely in its capacity as agent and trustee
to the Client;

(b)	Neither Agent nor any of its Affiliates, subsidiaries or successors, in each case, to the extent that
such Affiliates, subsidiaries or successors are not a Client under this Agreement, shall have any obligation of any kind or nature whatsoever,
by guaranty, enforcement or otherwise, with respect to the performance of any Client’s obligations, agreements, representations
or warranties under the Agreement or any transaction hereunder;

(c)	Other than with respect to the payment of Fees, Agent and its Affiliates shall have no responsibility
or liability to pay any costs, expenses, damages or claims arising under or in connection with or in any way relating to this Agreement
or any transaction hereunder entered into on behalf of a Client;

(d)	No recourse of any kind or nature whatsoever shall be had against the Agent or any Affiliate, subsidiary
or successor to Agent, or against any incorporator, shareholder, officer, director, member, manager, employee or agent of any Agent (each,
an “ Agent Party ”) with respect to any of the covenants, agreements, representations or warranties contained in this
Agreement or any annex, or schedule hereto, or any addendum, or any other document issued or delivered in connection with any transaction
entered into under this Agreement, in each case unless otherwise provided in the relevant document or if any Agent Party is or becomes
a Client under this Agreement;

(e)	Other than with respect to the Fees, under no circumstances shall the Agent or any Agent Party be in any
way individually or personally liable under this Agreement and Anchorage shall look solely to the assets and property of the Client that
are under management by Agent for performance of the Agreement or payment of any claim under the Agreement with respect to such Client;
and

(f)	Agent acknowledges and agrees that the payment of Fees is the obligation of Agent as principal and Agent
shall be liable to Anchorage for the failure to pay such fees when due under this Agreement.