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: 2026-03-16
Accession Number: 0001999371-26-005896
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2089855/000199937126005896/active-s1a_031626.htm

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underlying technology of the Dogecoin Network. No single entity owns or operates the Dogecoin Blockchain, the infrastructure of which is collectively maintained by a decentralized user base. Dogecoin is the native crypto asset of the Dogecoin system. The Dogecoin Network allows people to exchange tokens of value, Dogecoin, which are recorded on the Dogecoin Blockchain. The Dogecoin Network is based on a shared public ledger, the Dogecoin Blockchain, similar to the Bitcoin network. However, the Dogecoin Network differentiates itself from other crypto asset networks in that its stated primary function is community-driven and widely used for tipping and microtransactions, rather than serving as a store of value. The Dogecoin Network is designed to be a fast and accessible peer-to-peer payment system. As a result, the Dogecoin Network and Dogecoin aim to improve the ease and affordability of transferring value while fostering a fun and inclusive community around the crypto asset.

Dogecoin was originally developed
by software engineers as a lighthearted take on the rapidly emerging crypto asset market in 2013. They believed that existing crypto
assets at the time, such as Bitcoin, had overly grandiose goals to “change the world,” and launched Dogecoin as a fun,
community-driven, and lighthearted alternative. The project adopted a popular internet meme – a photograph of a Shiba Inu
dog named Kabosu, as its brand image and mascot, and chose the name “Dogecoin” in reference to the dog as a way of
emphasizing the fun and friendly aspects of the project. The use of an internet meme as inspiration for the project later caused
users to refer to Dogecoin as a memecoin and sparked the creation of many competitor memecoins.

Built on the framework of
Litecoin Blockchain, Dogecoin Blockchain uses a simplified and energy-efficient proof-of-work mechanism using the Scrypt algorithm,
which allows for faster transaction processing compared to Bitcoin Blockchain. Relative to Bitcoin, which utilizes the SHA-256
cryptographic algorithm, the Dogecoin Blockchain is optimized for speed, processing transactions in approximately one minute, as
opposed to approximately 10 minutes for bitcoin, and is energy-efficient compared to many other blockchain systems. The fast settlement
times are useful for microtransactions and everyday payments. The Dogecoin Blockchain also has scalability, capable of handling
significant transaction volumes without significant delays and low transaction fees. Dogecoin reportedly also had a “fair
launch,” which means that no single person or entity received grants of Dogecoin prior to the launch; instead, all new Dogecoin
has been earned in the market through mining activity.

Transactions are validated
on the Dogecoin Blockchain by a network of independent nodes. These nodes participate in securing and updating the ledger through
a proof-of-work mechanism. Any participant can run a node to validate transactions and contribute to the health and integrity of
the network. Unlike permissioned systems, the Dogecoin Blockchain operates in a fully decentralized and permissionless manner,
allowing anyone to join and participate in the network without requiring approval or relying on trusted entities.

The process begins when a user
submits a transaction to the Dogecoin Network. The submitted transaction is broadcast to nodes within the network. Miners, who
act as validators, then group transactions into blocks and compete to solve a computational puzzle as part of the proof-of-work
process. The first miner to successfully solve the puzzle adds their block of transactions to the blockchain. Once a block is added,
it is shared with all nodes in the network, which validate the new block and ensure that it conforms to the blockchain’s rules.
This decentralized process ensures the accuracy and security of the Dogecoin Blockchain.

Notably, Dogecoin miners may
engage in “merged mining” with the Litecoin network, because Dogecoin and Litecoin use the same Scrypt-based proof-of-work
consensus mechanism. Merged mining occurs when a single miner mines blocks on two chains at once. The process allows the smaller
chain to benefit from the security of the larger chain, but can introduce risks of centralization and conflicts of interest.

Before engaging in Dogecoin
transactions, a user generally must first install Dogecoin wallet software on their computer or mobile device. This software allows
the user to generate a private and public key pair associated with a Dogecoin address. The Dogecoin wallet enables the user to
connect to the blockchain and transfer Dogecoin to, and receive Dogecoin from, other users. Each Dogecoin address, or wallet, is
associated with a unique public key and private key pair.

Dogecoin can be held in various
types of wallets, including hardware wallets, software wallets, and custodial wallets. A wallet stores the private keys that control
the account on the Dogecoin Blockchain. The private key is essential for signing transactions on the blockchain. Whoever possesses
the private key associated with a Dogecoin account effectively controls the Dogecoin held by that account.

However, if a user loses or
deletes their private key, they may permanently lose access to the Dogecoin in the associated wallet.

When sending Dogecoin, the
user’s wallet software must validate the transaction with the private key. This digitally signed transaction is then broadcast
to the Dogecoin Network, where miners validate and confirm it through the proof-of-work process. Since every computation on the
Dogecoin Network requires processing power, there is a small transaction fee paid by the sender. This fee ensures that the network
remains efficient and incentivizes miners to process transactions.

Some Dogecoin transactions
are conducted “off-blockchain” and are therefore not recorded on the Dogecoin Blockchain. These “off-blockchain
transactions” involve the transfer of control over, or ownership of, a specific digital wallet holding Dogecoin or the reallocation
of ownership of certain Dogecoin in a pooled-ownership digital wallet, such as a wallet owned by a crypto asset trading platform.
In contrast to on-blockchain transactions, which are publicly recorded on the Dogecoin Blockchain, information and data regarding
off-blockchain transactions are generally not publicly available. Therefore, off-blockchain transactions are not true Dogecoin
Network transactions, as they do not involve the transfer of transaction data on the Dogecoin Blockchain and do not reflect the
movement of Dogecoin between addresses recorded on the ledger. For these reasons, off-blockchain transactions are subject to risks.
Any such transfer of Dogecoin ownership is not protected by the protocol underlying the Dogecoin Blockchain and is not recorded
or validated through the blockchain’s decentralized ledger mechanism.

The supply of Dogecoin is intentionally
unlimited, with thousands of Dogecoins introduced regularly rather than a capped limit. As of October 2025, there were about 151
billion Dogecoins in circulating supply.

HBAR (Hedera Network)

The Hedera Network is a public
distributed ledger technology network that enables people to interact and transact online efficiently and securely without the
need for third-party companies, which often collect and sell their users’ personal information. The purpose of the Hedera
Network is to provide a stable, trustworthy network for a wide variety of decentralized, enterprise-grade applications. Although
the primary purpose of the Hedera Network is not to operate a payments system or store of value, like most public DLT networks,
the Hedera Network requires a crypto asset to properly operate and incentivize consensus and behavior on the DLT network. HBAR
is the native crypto asset of the Hedera Network. HBAR are used to power decentralized applications, build peer-to-peer transactional
models, and protect the network from malicious actors.

The Hedera Network works through
a type of distributed consensus technology based on the “hashgraph” consensus algorithm. The combination of the consensus
algorithm and corresponding data structure of the Hedera Network is different from most other prominent DLT networks that are based
on blockchain technology.

Like blockchains and other
DLTs, the Hedera Network allows online communities to create a shared, trustworthy database without the need for third-party intermediaries.
Other DLT networks face trade-offs between performance and security (if they are faster, they are less secure; if they are more
secure, they are forced to slow down). In contrast, according to Hedera, hashgraph based transactions are processed at speeds that
can be orders of magnitude faster than on a blockchain, and offers higher levels of security needed for distributed networks.

According to Hedera, developers
and enterprises can use the Hedera Network’s services (crypto assets, smart contracts, file, and Hedera Consensus Service)
to create applications that run on top of the network. The Hedera Network supports the potential for an exceptionally wide range
of applications — from music-streaming services to pharmaceutical supply chain management to energy microgrids to multi-player
online games.

The Hedera Network is built
on the hashgraph distributed consensus algorithm, invented by Dr. Leemon Baird and subsequently patented by Swirlds, Inc. in 2016.
Swirlds has granted to Hedera an exclusive non-transferable, perpetual right and license to using hashgraph technology for the
limited and sole purpose of making the Hedera Network. The hashgraph data structure and consensus algorithm provides a novel platform
for distributed consensus.