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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include: (i) installing the Anchorage Digital Mobile Application onto the person’s Acceptable Device; and (ii) training on the Services regarding the creation of Directions or joining a Quorum. Upon completion of Anchorage’s onboarding process and any training, to Anchorage’s satisfaction in its sole discretion, the nominated person will be designated by Anchorage as one of Client’s Authorized Persons and their device designated by Anchorage as an Acceptable Device, such that they may create Directions or join a Quorum. Upon such designation, Anchorage may rely on the validity of such appointment until such time as Anchorage receives Directions from Client revoking such appointment or designating a new Authorized Representative. Anchorage will disable the access of an Authorized Representative as soon as reasonably practicable upon request from Client and in no event greater than one day following the receipt of such request and the execution of any documents reasonably required by Client.

(b)	As part of the Services, Anchorage shall provide Client with access to the Anchorage API during the Term,
through which Client may permit any Third Party, as well as Anchorage and its Affiliates, to access the Account(s) or Technology Platform.
Anchorage shall follow any Directions submitted via the Anchorage API, including Directions for withdrawals and external transfers of
Client’s Digital Assets, as though such Directions were submitted from and by Client and without additional authentication, unless
otherwise specified in this Agreement. Authorized Persons may generate API Keys and assign roles and access levels (e.g. read-only, admin)
to a Third Party, including without limitation, a Third Party application, subject to their compliance with the Anchorage API’s
Documentation, and applicable Law. Client and all Authorized Persons shall use industry best practices to safeguard any generated Anchorage
API Keys. Client shall be responsible for all Third Party access to the Account(s) and Directions submitted via the Anchorage API, and
Anchorage shall not be liable for following any Directions submitted via the Anchorage API Key provided to Client unless Anchorage’s
negligence or willful misconduct caused unauthorized access to or possession of such key.

2.4.	On-Chain Services . From time to time, Anchorage may, in its sole discretion, offer Client additional
optional services involving on-chain transactions (other than deposits and withdrawals included in Anchorage’s basic custody service),
which may include staking, voting, vesting, signaling, and other activities requiring interaction with the applicable blockchain (“ On-Chain
Services ”).

(a)   Offer and Acceptance of On-Chain
Services. Anchorage may offer On-Chain Services by sending the offer in writing to Client. Any offer for On-Chain Services will include
the following terms, which shall be reviewed and approved by Client in a separate agreement (any option to elect such services in the
Anchorage Digital Mobile Application shall not be valid) to Authorized Persons of Client:

i)	a basic description of the On-Chain Service;

ii)	a disclosure of the material risks of the On-Chain Service;

iii)	a description of any associated fees;

iv)	any other key terms of the On-Chain Service, as applicable (for example, Anchorage
will disclose if Digital Assets must be locked for a minimum period and would not be immediately accessible to Client); and

v)	an option to expressly agree to the On-Chain Service.

A Client may accept an On-Chain Service
in a signed writing, which for avoidance of doubt, Client has not agreed to enter into by entering into this Agreement and shall enter
into separately in the event Client elects to do so;

(b) Cancellation
of On-Chain Services.

i)	Any Authorized Person may cancel an On-Chain Service at any time; provided, however, that in cases where
Digital Assets are locked up for a certain period pursuant to the blockchain protocol, Anchorage will release locked Digital Assets when
and as permitted by the applicable blockchain protocol. If Client desires to cancel an On-Chain service, Client may do so by providing
written notice to Anchorage. Cancellation of an On-Chain
Service via the Anchorage Digital Mobile Application shall be void and of no legal effect. Client must provide
written notice to Anchorage for any actions by Client via the Anchorage Digital Mobile Application that could reasonably be interpreted
as a cancellation, termination, pause, or material modification of an On-Chain Service, so that Anchorage can confirm Client’s instructions
and implement any valid cancellation in accordance with this Agreement.

ii)	Anchorage may only discontinue an On-Chain Service upon providing Client with at least one hundred and
eighty (180) days’ written notice prior to such discontinuation unless one or more of the following circumstances apply: (1) Anchorage
is required by applicable Law to discontinue such On-Chain Service; or (2) there is a change in the applicable underlying blockchain protocol
which means Anchorage is no longer able to provide such On-Chain Service, in which case Anchorage will use best efforts to provide as
much prior written notice to Client as reasonably possible upon becoming aware of such circumstance(s), and provided however Anchorage
shall not be liable for any loss of rewards, slashing, penalty, or additional fees that may be incurred by the Client on the blockchain
protocol.

2.5.	Legal Compliance .

(a)	Notwithstanding any other provision in this Agreement, Client agrees at all times to: (i) fully satisfy
Anchorage’s information requests and other requirements, including but not limited to those relating to Authorized Persons or Digital
Assets; (ii) fully comply with all applicable Laws to the extent relevant and material to its performance hereunder, including the BSA
and all other Laws and regulations related to AML, KYC, counter-terrorist financing, sanctions screening requirements, or other legal
obligations; (iii) notify Anchorage if Client becomes a target of any BSA or Digital Asset related action, investigation or prosecution;
(iv) notify Anchorage of any changes in jurisdiction or material ownership; and (v) provide Anchorage full cooperation in connection with
any inquiry or investigation made or conducted by the U.S. Office of the Comptroller of the Currency (“ OCC ”). Client
agrees to immediately notify Anchorage if it becomes aware of any suspicious activity or pattern of activity, or any activity which upon
investigation may be a suspicious activity or pattern of activity under applicable Laws, involving Client's Account.

(b)	Notwithstanding any other provision in this Agreement, Anchorage agrees at all times to: (i) fully satisfy
Client's information requests and other requirements, including but not limited to those relating to Authorized Persons or Digital Assets,
or any such request from Client's accountants or auditors; (ii) fully comply with all applicable Laws, including the BSA and all other
Laws and regulations related to AML, KYC, counter-terrorist financing, sanctions screening requirements, the requirements of the OCC or
other legal obligations; (iii) notify Client if Anchorage becomes a target of any BSA or Digital Asset related action, investigation or
prosecution; (iv) notify Client of any changes in jurisdiction or material ownership; and (v) provide Client full cooperation in connection
with any inquiry or investigation made or conducted by any federal or state regulator. Anchorage agrees to immediately notify Client if
it becomes aware of any suspicious activity or pattern of activity, or any activity which upon investigation may be a suspicious activity
or pattern of activity under applicable Laws, involving Client's Account.

2.6.	Acknowledgements . Client acknowledges that:

(a)	Client is an “entitlement holder” in a “Financial Asset,” as defined by, and for
purposes of, the UCC;

(b)	Anchorage does not provide investment advice or exercise investment discretion. Client is capable of evaluating
transaction and investment risks independently, both in general and with regard to all transactions and investment strategies. Client
is solely responsible for, and Anchorage has no involvement in, determining whether any Digital Asset transaction (whether an investment
or otherwise), investment strategy, or related transaction is appropriate for Client;

(c)	Anchorage has no control over the Blockchains and markets in which Digital Assets are purchased and traded,
and such may be subject to technology flaws, manipulations, hacks, double spending, “51%” attacks, other attacks, and operational
limitations, provided, Anchorage shall comply with its obligations under this Agreement and applicable Law;

(d)	Anchorage does not control and makes no guarantee as to the functionality of any Blockchain’s decentralized
governance, which could, among other things, lead to delays, conflicts of interest, or operational decisions that may impact Client or
its Digital Assets, provided, Anchorage shall comply with its obligations under this Agreement and applicable Law;

(e)	Advancements in cryptography (such as enabled by quantum computing) could render current cryptography
algorithms utilized by a Blockchain supporting a specific Digital Asset inoperative;

(f)	The price and liquidity of Digital Assets has been subject to large fluctuations in the past and may be
subject to large fluctuations in the future;

(g)	Deposits into Client’s Accounts may not be considered “deposits,” as that term may be
used under the applicable Laws, rules, or regulations in Client’s jurisdiction, provided, Anchorage shall comply with its obligations
under this Agreement and applicable Law;