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: 2026-05-15
Accession Number: 0001999371-26-010860
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2089855/000199937126010860/tknz-s1a_051526.htm

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and accounting services (including valuing the Fund’s crypto assets and calculating the NAV per Share of the Fund), and preparation of certain regulatory and financial reports. In addition, the Administrator makes available the office space, equipment, personnel and facilities required to provide such services. The Administrator’s fees are paid by the Sponsor. The Administrator shall exercise reasonable care, prudence and diligence in carrying out all of its duties and obligations under the Administration Agreement, and shall be liable to the Fund only for direct losses suffered or incurred by the Fund resulting from the failure of the Administrator to exercise its standard of care. The Administrator shall be responsible for the performance only of such duties as are set forth in the Administration Agreement and, except as otherwise provided in the Administration Agreement, shall have no responsibility for the actions or activities of any other party, including other service providers.

The Administrator shall have no liability
in respect of any loss, damage or expense suffered by the Fund insofar as such loss, damage or expense arises from the performance of
the Administrator’s duties hereunder in reliance upon records that were maintained for the Fund by entities other than the Administrator
prior to the Administrator’s appointment as administrator for the Fund. Unless directly caused by or resulting from, the failure
of the Administrator to exercise its standard of care, the Administrator shall have no liability for errors of judgment or for any loss
or damage resulting from the performance or nonperformance of its duties under the Administration Agreement. Neither the Fund nor the
Administrator shall be liable for any special, indirect, incidental, punitive or consequential damages, including lost profits, of any
kind whatsoever (including, without limitation, attorneys’ fees) arising in connection with the Administration Agreement even if
advised of the possibility of such damages. The Administrator shall not be responsible or liable for any failure or delay in performance
of its obligations under the Administration Agreement arising out of or caused, directly or indirectly, by circumstances beyond its control,
including, without limitation, work stoppage, power or other mechanical failure, computer virus, natural disaster, governmental action
or communication disruption.

The Fund indemnifies the Administrator
against, and hold Administrator harmless from, any loss, damage, or expense that may be imposed on, incurred by, or asserted against the
Administrator as a result of any action or omission taken in accordance with any instruction, except to the extent that such loss, damage,
or expense is caused by the negligence, misfeasance or willful misconduct of the Administrator in the manner in which it carries out the
instruction. The Fund agrees to indemnify and hold the Administrator and its directors, officers, employees and agents harmless from all
loss, cost, damage and expense, including reasonable fees and expenses for counsel, incurred by the Administrator resulting from any claim,
demand, action or suit in connection with any action or omission by the Administrator in the performance of its duties under the Administration
Agreement, or as a result of the Administrator acting upon any instructions reasonably believed by it to have been communicated to it
or upon reasonable reliance on information or records given or made by the Fund. However, the Fund will not indemnify the Administrator
from losses, damages and expenses occasioned by or resulting from the negligence, misfeasance or willful misconduct of the Administrator,
its officers, employees or agents as the case may be. Under the Administration Agreement, the Sponsor indemnifies and holds harmless the
Fund from any loss, cost, or expense (direct or indirect), incurred by the Fund resulting from any claim, demand, action or suit in connection
with any action or omission by the Sponsor to pay the fees required to be made on behalf of the Administrator and/or the Fund, provided
that the indemnification does not apply to actions or omissions of the Administrator and/or a Fund, its officers or employees in cases
of its or their own bad faith, negligence, or willful misconduct.

The Administration Agreement
shall continue in full force and effect until the first to occur of: (i) termination for convenience by the Administrator by an
instrument in writing delivered or mailed to the Fund, such termination to take effect not sooner than ninety days after the date of
such delivery; (ii) termination for convenience by the Fund by an instrument in writing delivered or mailed to the Administrator,
such termination to take effect not sooner than thirty days after the date of such delivery; (iii) termination by the Administrator,
by an instrument in writing delivered or mailed to the Fund if the Administrator reasonably determines that servicing the Fund
raises regulatory or reputational concerns, with such termination to take effect not sooner than sixty days after the date of such
delivery; or (iv) termination by the either party by written notice delivered to the other party, based upon: (a) the terminating
party’s determination that there is a reasonable basis to conclude that the other party is insolvent or that the financial
condition of the other party is deteriorating in any material respect, in which case termination shall take effect upon the other
party’s receipt of such notice or at such later time as the terminating party shall designate; (b) the other party committing
a material breach of the Administration Agreement, and failing to remedy such material breach within ninety days of being given
written notice of the material breach, unless the parties agree to extend the period to remedy the breach; or (c) the relevant state
or federal authority withdrawing its authorization of either party.

The Crypto Custodian

The Crypto Custodian for the Fund’s
crypto asset and stablecoin holdings is Anchorage Digital Bank N.A., pursuant to the Master Custody Service Agreement between Anchorage
Digital Bank N.A. and the Fund dated February 26, 2026 (“Crypto Custodian Agreement”). The Crypto Custodian is a National
Trust Bank regulated by the Office of the Comptroller of the Currency. The Crypto Custodian’s principal offices are located at 101
S. Reid Street, Suite 307 #329, Sioux Falls, South Dakota 57103. The Crypto Custodian is unaffiliated with the Sponsor.

The Crypto Custodian is responsible
for keeping the passwords, keys or phrases used to effect transfers of the Fund’s crypto assets safe, secure and
confidential. The Crypto Custodian will help establish accounts and any necessary sub-accounts on the crypto asset networks
solely for the Fund. The Crypto Custodian will follow valid instructions to use such passwords, keys or phrases to effect transfers
from the Fund’s portfolio. The Crypto Custodian is required to record all crypto assets that it receives into the Fund’s
account as the assets of the Fund, and must separately identify them from the crypto assets of the Crypto Custodian and the Crypto Custodian’s
other clients. The Crypto Custodian must provide the Fund with access to a technology platform for transaction records and holdings. The
Crypto Custodian is required to maintain such books and records in accordance with applicable law and provide such materials to the Fund
on request.

Neither party is liable for delays,
suspension of operations, failure in performance, or interruption of service, which is directly caused by or results from a cause or condition
entirely beyond the reasonable control of that party. Except in the case of Crypto Custodian’s: (i) breach of the Crypto Custodian
Agreement; (ii) violation of applicable laws, (iii) negligence, (iv) failure to comply with applicable internal policies and procedures
in connection with cybersecurity incidents or attacks; (v) failure to take reasonable precautions and act in a manner consistent with
industry best practices in connection with the prevention and mitigation of cybersecurity incidents or attacks; or (vi) willful misconduct,
Crypto Custodian shall not have any liability, obligation, or responsibility for any damage or interruptions caused by any cybersecurity
incident or attack (including DDoS, network intrusion, or critical vulnerability exploitation). The Fund holds the Crypto Custodian harmless
from claims or losses related to transactions where they correctly execute instructions.