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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any reason to discontinue the affairs of the Trust and so dissolve the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Shareholder shall not result in the termination of the Trust, and such Shareholder, his estate, custodian or personal representative shall have no right to a redemption of such Shareholder’s Shares. Each Shareholder (and any assignee thereof) expressly agrees that in the event of his death, he waives on behalf of himself and his estate, and he directs the legal representative of his estate and any person interested therein to waive, the furnishing of any inventory, accounting or appraisal of the Trust Property and any right to an audit or examination of the books of the Trust, except for such rights as are set forth in Article VII hereof relating to the books of account and reports of the Trust. Section 10.2 Distributions on Dissolution.

Upon the dissolution of the Trust, the
Sponsor (or in the event there is no Sponsor, such person (the “Liquidating Trustee”) as the majority in interest of the Shareholders
may propose and approve and who agrees to serve hereunder) shall take full charge of the Trust Property. Any Liquidating Trustee so appointed
shall have and may exercise, without further authorization or approval of any of the parties hereto, all of the powers conferred upon
the Sponsor under the terms of this Trust Agreement, subject to all of the applicable limitations, contractual and otherwise, upon the
exercise of such powers, and provided that the Liquidating Trustee shall not have general liability for the acts, omissions, obligations
and expenses of the Trust. Thereafter, in accordance with Section 3808(e) of the Delaware Act, the affairs of the Trust shall be wound
up and all assets owned by the Trust shall be liquidated as promptly as is consistent with obtaining the fair value thereof, and the proceeds
therefrom shall be applied and distributed in the following order of priority: (a) to the expenses of liquidation and termination and
to creditors, including Shareholders who are creditors, to the extent otherwise permitted by law, in satisfaction of liabilities of the
Trust (whether by payment or the making of reasonable provision for payment thereof) other than liabilities for distributions to Shareholders,
and (b) to the Shareholders pro rata in accordance with their respective Percentage Interests.

Section 10.3   Termination;
Certificate of Cancellation.

Following the dissolution and windup
of the Trust, including distribution of the assets of the Trust, the Trust shall terminate and the Sponsor or the Liquidating Trustee,
as the case may be, shall instruct in writing the Trustee to execute and cause such certificate of cancellation of the Certificate of
Trust to be filed in accordance with the Delaware Act at the expense of the Sponsor or the Liquidating Trustee, as the case may be. Notwithstanding
anything to the contrary contained in this Trust Agreement, the existence of the Trust as a separate legal entity shall continue until
the filing of such certificate of cancellation. Upon the termination of the Trust, the Sponsor will be discharged from all obligations
under the Trust Agreement except for its certain obligations that survive termination of the Trust Agreement.

Section 10.4   Notice.

The Sponsor will notify Shareholders
at least 30 days before the date for termination of the Trust Agreement.

Article XI

MISCELLANEOUS

(a)          This Trust Agreement may be executed in one or more counterparts. This Trust Agreement shall be governed by, and construed
in accordance with, the laws of the State of Delaware (without regard to conflict of laws principles) and the obligations, rights and
remedies of the parties hereunder shall be determined in accordance with such laws; provided, however, that there shall not be applicable
to the Liquidating Trust, the Liquidating Trustee or this Liquidating Trust Agreement, any provisions of the laws (statutory or common)
of the State of Delaware, other than the Delaware Act, pertaining to trusts that relate to or regulate, in a manner inconsistent with
the terms hereof (i) the filing with any court or governmental body or agency of trustee accounts or schedule of trustee fees and charges,
(ii) affirmative requirements to post bonds for trustees, officers, agents, or employees of a trust, (iii) the necessity for obtaining
court or other governmental approval concerning the acquisition, holding or disposition of real or personal property, (iv) fees or other
sums payable to trustees, officers, agents, or employees of a trust, (v) the allocation of receipts and expenditures to income and principal,
(vi) restrictions or limitations on the permissible nature, amount or concentration of trust investments or requirements relating to the
titling, storage or other manner of holding or investing trust assets, or (vii) the establishment of fiduciary or other standards or responsibilities
or limitations on the acts or powers of trustees.This Trust Agreement may be executed in one or more counterparts (including those by
electronic means), all of which shall constitute one and the same instrument binding on all of the parties hereto, notwithstanding that
all parties are not signatory to the original or the same counterpart. This Trust Agreement, to the extent signed and delivered by means
of electronic transmission, shall be treated in all manner and respects as an original agreement and shall be considered to have the same
binding legal effect as if it were the original signed version thereof delivered in person.This Trust Agreement represents the entire
agreement between the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings
between the parties, whether written or oral.

(b)          All notices or communications under this Trust Agreement (other than notices of pledge or encumbrance of Shares, and reports
and notices by the Sponsor to the Shareholders) shall be in writing and shall be effective upon personal delivery, or if sent by mail,
postage prepaid, or if sent electronically, by facsimile or by overnight courier, and addressed, in each such case, to the address set
forth in the books and records of the Trust or such other address as may be specified in writing, of the party to whom such notice is
to be given, upon the deposit of such notice in the United States mail, upon transmission and electronic confirmation thereof or upon
deposit with a representative of an overnight courier, as the case may be. Notices of pledge or encumbrance of Shares shall be effective
upon timely receipt by the Sponsor in writing.

(c)          The Corporate Transparency Act (31 U.S.C. § 5336) and its implementing regulations (collectively, the “CTA”),
may require the Trust to file reports with the U.S. Financial Crimes Enforcement Network. It shall be Sponsor’s duty, and not the
Trustee’s duty, to prepare such filings, cause the Trust to make such filings, and to cause the Trust to comply with its obligations
under the CTA, if any.

(d)          This Trust Agreement constitutes the entire agreement among the parties hereto pertaining to the subject matter hereof and
supersedes all prior agreements and understandings pertaining thereto. The terms and provisions of this Trust Agreement shall be binding
upon and inure to the benefit of the heirs, custodians, executors, estates, administrators, personal representatives, successors and permitted
assigns of the respective Shareholders. For purposes of determining the rights of any Shareholder or assignee hereunder, the Trust and
the Sponsor may rely upon the Trust records as to who are Shareholders and permitted assignees, and all Shareholders and assignees agree
that the Trust and the Sponsor, in determining such rights, shall rely on such records and that Shareholders and their assignees shall
be bound by such determination.

All notices that are required to be provided to
the Trustee shall be sent to:

CSC Delaware Trust Company

Attention: Corporate Trust Administration

251 Little Falls Drive

Wilmington, DE 19808

All notices required to be provided to the Trust
or the Sponsor, at

T. Rowe Price Active Crypto ETF

c/o T. Rowe Price Sponsor LLC, as Sponsor

1307 Point
Street

Baltimore, MD 21231

[signature page follows]

IN WITNESS WHEREOF, the parties hereto
have caused this Trust Agreement to be duly executed as of the day and year first above written.

CSC DELAWARE TRUST COMPANY, as Trustee

By:	/s/ James Grier

Name: James Grier

Title: Vice President

T. ROWE PRICE SPONSOR LLC, as Sponsor

By:	/s/ Francine Rosenberger

Name: Francine Rosenberger

Title: Vice President