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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determined by Anchorage in its sole discretion, together with any credentials, keys, or other information sufficient for Client (or its nominated Third Party) to gain control over such Digital Assets (subject to the withholding and retention by Anchorage of an amount reasonably necessary to fairly compensate Anchorage (on a pro rata basis) for the efforts expended to obtain and deliver such Digital Assets to Client or its nominated Third Party). (2) With respect to Forked Networks that Anchorage chooses to support, Client may be responsible for the reasonable additional fees incurred by Anchorage attributable to Anchorage’s support of such Fork and prorated in respect of Client’s Digital Assets (to be negotiated and agreed between the Parties in writing prior to such Fork taking effect), and Client acknowledges and agrees that Anchorage assumes no responsibility with respect to any Forked Network and related Digital Assets that it chooses not to support.

(b)	Client acknowledges that Digital Asset values can fluctuate substantially which may result in a
total loss of the value of Digital Assets. The supply of Digital Assets available as a result of a Forked Network and
Anchorage’s ability to deliver Digital Assets resulting from a Forked Network may depend on circumstances or Third Party
providers that are outside of Anchorage’s control. Anchorage does not own or control any of the protocols that are used in
connection with Digital Assets and their related Digital Asset networks, including those
resulting from a Forked Network. Accordingly, Anchorage disclaims all liability relating to a Forked Network and any change in the value
of any Digital Assets (whether on a Forked Network or otherwise) due to the operation of Digital Asset networks which affect all holders
of Digital Assets on such networks as a class, and makes no guarantees regarding the security, functionality, or availability of such
protocols or Digital Asset networks, provided Anchorage shall act in accordance with this Agreement. In the event that a Digital Asset
network, entity or person (a “ Sender ”) attempts to or does contribute (sometimes called “airdropping” or
“bootstrapping”) its Digital Assets (collectively, “ Airdropped Digital Assets ”) to holders of Digital Assets
on an existing Digital Asset network and Client notifies Anchorage in writing that Client agrees in writing that it is willing to take
possession of the Airdropped Digital Assets associated with Client’s Digital Assets, Anchorage shall carry out one of the following
actions in its sole final discretion: (i) subject to a reasonable airdrop fee to support the Airdropped Digital Asset for custody in accordance
with this Agreement and, if appropriate, reconcile Account(s); (ii) abandon or otherwise not pursue obtaining the Airdropped Digital Assets;
or (iii) within a reasonable time period as determined by Anchorage, deliver the Airdropped Digital Assets
from that Digital Asset network to Client (or such Third Party nominated by Client in writing), together with any credentials, keys, or
other information sufficient for Client (or its nominated Third Party) to gain control over such Airdropped Digital Assets (subject to
the withholding and retention by Anchorage of any amount reasonably necessary, as determined in Anchorage’s sole discretion, to
fairly compensate Anchorage for the efforts expended to obtain and deliver such Airdropped Digital Assets to Client or its nominated Third
Party). If Anchorage supports, obtains or delivers Airdropped Digital Assets, such actions will not create any relationship between the
Sender and Anchorage, grant any interest or rights to the Sender (including, without limitation, any Third Party beneficiary rights),
or subject Anchorage to any obligations as it relates to the Sender. Under no circumstances will Anchorage include any Airdropped Digital
Assets in Client’s custody holdings without Client’s express written approval.

(c)	In the event that an announcement of a Fork in a Supported Digital Asset is to occur pursuant to Section
1.10(a), upon a written notice by either Party, the Parties agree to enter into a good faith discussion about which Fork can be supported
by Anchorage and Anchorage will support at least one branch of such Fork, unless expressly prohibited by Law or Anchorage's US prudential
regulator. Notwithstanding anything to the contrary herein, Anchorage agrees to provide advance written notice to the Client announcing
which Forked Network Anchorage intends to support for the Supported Digital Asset, promptly upon becoming aware of such a potential suspension,
and to use commercially reasonable efforts to give Client a reasonable opportunity to withdraw Client's Digital Assets following such
announcement.

1.11.	Generally . Client agrees that Anchorage will perform only such duties as are expressly set forth
herein, including complying with applicable Law. Anchorage has the authority to do all acts that Anchorage reasonably determines are necessary,
proper, or convenient for it to perform its obligations under this Agreement, provided it shall at all times comply with and be subject
to this Agreement and shall have no obligation to perform acts which it reasonably believes do not comply with applicable Laws.

2.	Client Responsibilities and Acknowledgements.

2.1.	Account Acceptance; Authorized Person Designations .

(a)	Services will be provided only after Client’s successful completion of the account acceptance process,
including but not limited to the onboarding process in Section 2.3(a), as determined in Anchorage’s sole discretion. Anchorage may
terminate this Agreement upon fourteen (14) days’ prior written notice to the Client due to Client’s failure to complete the
onboarding process with Anchorage; provided that this right will no longer apply after the date of execution of this Agreement by both
Parties. To complete the acceptance process, Client shall provide Anchorage with information and documents, which include but are not
limited to, information necessary for Anchorage’s compliance with the Bank Secrecy Act (“ BSA ”), and all Laws
and regulations relating to anti-money laundering (“ AML ”), Know-Your-Customer (“ KYC ”), counter-terrorist
financing, sanctions screening requirements, or any other legal obligations, in each case, as determined by Anchorage in its reasonable
discretion as being required by applicable Law. Upon acceptance of Client by Anchorage, Client shall nominate and manage Authorized Persons.

(b)	In order to be approved as an Authorized Person, nominated persons must agree to data collection permissions
and related policies provided in the Technology Platform (including the Anchorage Digital Mobile Application), including privacy policies
and other terms, which may be amended from time to time. A copy of the then-current versions of such privacy policies and other terms
will be provided at the written request of Client. Client is solely responsible for the actions or inactions of all Authorized Persons
in connection with the Technology Platform at all times, though Anchorage shall comply with its obligations under this Agreement, including
the standard of care specified in Section 10.6 hereof. With respect to Client’s primary custody Account, Client will initially nominate
three (3) or more individuals as Authorized Persons prior to initiation of Client on-boarding by Anchorage, and a minimum of two (2) of
three (3) Authorized Persons must approve an Authenticated Instruction. Anchorage reserves the right in its reasonable sole discretion
to change the minimum number of Authorized Persons to be designated or which are required to approve a Direction; provided that Anchorage
provides Client with sixty (60) days’ prior written notice.

(c)	Subsequent to the approval and on-boarding of initial Authorized Persons, Client may nominate additional
Authorized Persons or revoke an Authorized Person’s status, each through a Direction to be approved by a Quorum.

2.2.	Acceptable Devices . Unless expressly agreed upon otherwise, Client shall maintain a separate Acceptable
Device for each Authorized Person. The Acceptable Device must have Internet accessibility and meet other technical specifications prescribed
by Anchorage in Schedule B.

2.3.	Authorized Persons; Anchorage API .

(a)	Each person nominated by Client as an Authorized Person must be confirmed by Anchorage as an Authorized
Person. Authorized Persons may be required to successfully complete the onboarding process and training, which may 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.