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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them. This includes any actions pending, on appeal, concluded, threatened, or otherwise known to them. FORM AND TRANSFER OF SHARES Registered Form Shares are issued in registered form in accordance with the Trust Agreement. The Transfer Agent has been appointed registrar and transfer agent for the purpose of transferring shares in certificated form. The Transfer Agent keeps a record of all Shareholders and holders of the Shares in certified form in the registry (Register). The Sponsor recognizes transfers of Shares in certificated form only if done in accordance with the Trust Agreement. The beneficial interests in such Shares are held in book-entry form through participants and/or accountholders in DTC. Beneficial owners of shares held in book-entry form through DTC will not be recognized by the Fund as registered holders of shares, and all rights and communications in respect of shares will be transmitted through DTC and its participants. Book Entry

Individual certificates for shares
will not be issued, except under limited circumstances as permitted by the Trust Agreement and determined by the Sponsor. Shares are represented
by one or more global certificates, which are deposited by the Administrator with DTC and registered in the name of Cede & Co., as
nominee for DTC. The global certificates evidence all of the shares outstanding at any time. Shareholders are limited to (1) participants
in DTC such as banks, brokers, dealers and trust companies (DTC Participants), (2) those who maintain, either directly or indirectly,
a custodial relationship with a DTC Participant (Indirect Participants), and (3) those who hold interests in the shares through DTC Participants
or Indirect Participants, in each case who satisfy the requirements for transfers of shares. DTC Participants acting on behalf of Shareholders
holding shares through such participants’ accounts in DTC will follow the delivery practice applicable to securities eligible for
DTC’s Same-Day Funds Settlement System. Shares are credited to DTC Participants’ securities accounts following confirmation
of receipt of payment.

DTC

DTC is a limited purpose trust company
organized under the laws of the State of New York and is a member of the Federal Reserve System, a “clearing corporation”
within the meaning of the New York Uniform Commercial Code and a “clearing agency” registered pursuant to the provisions of
Section 17A of the Exchange Act. DTC holds securities for DTC Participants and facilitates the clearance and settlement of transactions
between DTC Participants through electronic book-entry changes in accounts of DTC Participants. Neither the Fund nor the Sponsor (nor
its affiliates) are responsible for DTC’s records, errors, or actions.

Transfer of Shares

The Fund’s shares are only transferable
through the book-entry system of DTC. Shareholders who are not DTC Participants may transfer their shares through DTC by instructing the
DTC Participant holding their shares (or by instructing the Indirect Participant or other entity through which their shares are held)
to transfer the shares. Transfers are made in accordance with standard securities industry practice.

Transfers of interests in shares with
DTC are made in accordance with the usual rules and operating procedures of DTC and the nature of the transfer. DTC has established procedures
to facilitate transfers among the participants and/or accountholders of DTC. Because DTC can only act on behalf of DTC Participants, who
in turn act on behalf of Indirect Participants, the ability of a person or entity having an interest in a global certificate to pledge
such interest to persons or entities that do not participate in DTC, or otherwise take actions in respect of such interest, may be affected
by the lack of a certificate or other definitive document representing such interest.

DTC will take any action permitted
to be taken by a Shareholder (including, without limitation, the presentation of a global certificate for exchange) only at the direction
of one or more DTC Participants in whose account with DTC interests in global certificates are credited and only in respect of such portion
of the aggregate principal amount of the global certificate as to which such DTC Participant or Participants has or have given such direction.

MANAGEMENT;
VOTING BY SHAREHOLDERS

The Shareholders of the Fund take
no part in the management or control, and have no voice in the Fund’s operations or business. The Audit Committee of the board of
directors of the Sponsor serves as the Audit Committee for the Fund for purposes of Rule 10A-3 under the Exchange Act and, for example,
approves the independent auditor of the Fund. See “Key Personnel of the Sponsor” for additional information. Except in limited
circumstances, Shareholders will have no voting rights under the Trust Agreement.

Owners of Shares do not
generally have any voting rights. The Shares do not represent a traditional investment and are not similar to shares of a
corporation operating a business enterprise with management and a board of directors. All Shares are of the same class with equal
rights and privileges. By acquiring shares, Shareholders are not acquiring the right to elect directors, to receive dividends, to
vote on certain matters regarding the issuer of Shares or to take other actions normally associated with the ownership of shares.
The Shares do not entitle their holders to any conversion or pre-emptive rights or any redemption rights. In certain circumstances,
Shareholders may vote to appoint a successor Sponsor following the voluntary withdrawal of the Sponsor, or to continue the Fund in
certain instances of dissolution of the Trust. Shareholders shall otherwise have no voting rights with respect to the Fund.

The Sponsor will generally have the
right to amend the Trust Agreement as it applies to the Fund provided that the Shareholders have the right to vote only if expressly required
under Delaware or federal law or rules or regulations of the Exchange, or if submitted to the Shareholders by the Sponsor in its sole
discretion.

The Fund does not have any directors,
officers, or employees. The creation and operation of the Fund has been arranged by the Sponsor. See “Key Personnel of the Sponsor.”

DESCRIPTION
OF KEY SERVICE PROVIDERS

The Sponsor

The Sponsor of the Fund is T. Rowe
Price Sponsor LLC, a Delaware limited liability company and a direct subsidiary of T. Rowe Price Group, Inc. (Firm). The Sponsor’s
principal office is located at 1307 Point Street, Baltimore, Maryland 21231. The Sponsor was formed on September 4, 2025.

The Sponsor’s Role

The Sponsor is responsible for the
formation of the Fund, the registration of the Shares for their public offering in the United States, the listing of the Shares on the
Exchange, the implementation of Fund’s investment strategy, and overall management of the Fund. The Sponsor has delegated the management
of the Fund to the Administrator, including engagement and oversight of the Fund’s service providers, preparation and filing of
the Fund’s periodic reports with the SEC, accounting and calculation of NAV, and any other service necessary for the operations
and administration of the Fund.

The Sponsor has agreed to assume all
routine operational, administrative, and other ordinary expenses of the Fund, including but not limited to, fees and expenses of the Administrator,
Trustee, Custodians, Transfer Agent, licensors, accounting and audit fees and expenses, tax preparation expenses, ongoing SEC registration
fees, report preparation and mailing expenses, and ordinary legal fees and expenses. The Fund pays certain expenses as described in “Business
of the Fund - Fund Fees and Expenses,” including brokerage commissions, transaction fees, borrowing and financing costs, taxes
or governmental fees, and non-recurring, extraordinary, or unusual fees and expenses. Examples of extraordinary expenses include services
performed by the Sponsor (or any other service provider) on behalf of the Fund to protect the Fund or the interests of Shareholders (including,
for example, in connection with any fork of the Bitcoin or Ethereum blockchain), any indemnification of the Cash Custodian, Crypto Custodian,
Administrator or other agents, service providers or counterparties of the Fund, and extraordinary legal fees and expenses, including any
legal fees and expenses incurred in connection with litigation, regulatory enforcement or investigation matters.