SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-10.2
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/ex10-2.htm

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T.Rowe Price Active Crypto ETF S-1A

Exhibit 10.2

ADMINISTRATION AGREEMENT

This ADMINISTRATION AGREEMENT (“Agreement”),
made as of March 26, 2026, by and among T Rowe Price Sponsor, LLC, as sponsor (“Sponsor”) on behalf of each entity listed
on Appendix A hereto (each such entity being herein referred to as a “Fund” and collectively as the “Funds”),
T. Rowe Price Associates, Inc., a Maryland corporation (the “Administrator”), and the Sponsor on its own behalf solely with
respect to Sections 3 and 4 hereof.

WHEREAS, each Fund desires the Administrator
to furnish certain administrative services to the Fund and the Administrator is willing to furnish such services, on the terms and conditions
set forth in this Agreement.

NOW, THEREFORE, in consideration
of the premises and the mutual promises hereinafter set forth, the parties hereto agree as follows:

1.	Appointment of Administrator

Each Fund hereby appoints the Administrator
to act as administrator to it for the purposes of providing certain administrative services for the period and on the terms set forth
in this Agreement. The Administrator accepts such appointment and agrees to render the services stated herein. In the event that any additional
entity wishes to retain the Administrator to act as administrator under this Agreement, such entity shall notify the Administrator in
writing. Upon written acceptance by the Administrator, such entity(ies) shall become subject to the provisions of this Agreement to the
same extent as the existing Funds.

2.	Delivery of Documents

Each Fund will promptly deliver to
the Administrator copies of each of the following documents and all future amendments and supplements, if any:

a.	Each Fund’s governing documents;

b.	Copies of signature authority documents authorizing certain individuals on behalf of a Fund to designate
the individuals (“Authorized Persons”) authorized to (a) give instructions to the Administrator pursuant to this Agreement
and (b) sign checks and pay expenses; and

c.	Such other certificates, documents or opinions which the Administrator may, in its reasonable discretion,
deem necessary or appropriate in the proper performance of its duties, subject to the consent of the relevant Fund which shall not be
unreasonably withheld, provided however, that if a Fund’s refusal to provide such certificates, documents or opinions renders the
Administrator, in its reasonable opinion, unable to perform its duties, the Administrator shall not be liable for its failure to perform
such duties.

3.	Fund Accounting and Fund Administration Services

The Administrator shall monitor
the financial, accounting, and administrative functions of each Fund; maintain liaison with the various agents employed for the
benefit of each Fund (including a Fund’s transfer agent, fund accountant, custodian, independent accountants, and legal
counsel); assist in the coordination of their activities on behalf of each Fund; and furnish advice and recommendations with respect
to such other aspects of the business and affairs of each Fund as it shall determine to be desirable; maintaining each Fund’s
compliance program with respect to applicable rules and regulations; and generally monitor compliance with investment policies and
restrictions as set forth in filings made by each Fund under the federal securities laws. For the avoidance of doubt, the
Administrator shall not be obligated to perform the services for a Fund required to be provided by such various agents employed for
the benefit such Fund.

The Administrator also shall provide
the services listed on Appendix B, attached hereto, subject to the authorization and direction of each Fund and, in each case where appropriate,
the review and comment by each Fund’s independent accountants and legal counsel and in accordance with procedures which may be established
from time to time between the Fund and the Administrator.

The Administrator shall perform such
other services for the Fund(s) that are mutually agreed to by the parties from time to time, for which the Sponsor will pay such fees,
including the Administrator’s reasonable out-of-pocket expenses, as may be mutually agreed upon. The provision of such services
shall be subject to the terms and conditions of this Agreement. The Sponsor shall indemnify and hold each Fund harmless from any loss,
cost, or expense (direct or indirect), incurred by a 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 any Fund, provided that this indemnification
shall 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.

4.	Fees; Expenses; Expense Reimbursement

The Administrator shall receive from
the Sponsor such compensation for the Administrator’s services provided pursuant to this Agreement as may be agreed to from time
to time in a written fee schedule (the “Fee Schedule”) approved by the parties.

The Administrator is authorized to
and may employ, associate or contract with such person or persons as the Administrator may deem desirable to assist it in performing its
duties under this Agreement, and the Administrator may delegate its duties hereunder to any affiliate, affiliated joint venture or wholly-owned
direct or indirect subsidiary of its parent company; provided, however, that the compensation of any such person or persons shall be paid
by the Administrator and that the Administrator shall:

a.	ensure that, with respect to any delegated activity, the delegate shall adopt and implement the policies
and procedures of the Administrator with respect to such delegated activity;

b.	regularly review such delegation in keeping with the level of risk and the nature of the delegated activity;

c.	procure that any such delegation shall not hinder either any Fund or any relevant regulatory authority
from accessing relevant information or data at any given time, or from conducting audits or inspections with respect to the delegated
functions;

d.	be as fully responsible to the Administrator for the acts and omissions of any such person or persons
as it is for its own acts and omissions.

5.	Instructions and Advice

Each Fund authorizes Administrator
to accept, rely upon and/or act upon any instructions received by it from an Authorized Person without inquiry. Each Fund is solely responsible
for the accuracy and completeness of instructions, their proper delivery to Administrator, for updating such instructions as may be necessary
to ensure continued accuracy and completeness, and for monitoring their status. Each Fund will indemnify 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.

6.	Standard of Care, Limitation of Liability and Indemnification

The Administrator shall exercise reasonable
care, prudence and diligence (the “Standard of Care”) in carrying out all of its duties and obligations under this Agreement
and shall be liable to each Fund only for direct losses suffered or incurred by such Fund resulting from the failure of the Administrator
to exercise the Standard of Care. The Administrator shall be entitled to receive and act upon advice of counsel on all matters. The Administrator
shall be without liability for any action reasonably taken or omitted in good faith pursuant to the advice of (i) counsel for the applicable
Fund or Funds; or (ii) at the expense of the Administrator, counsel to the Administrator; provided however, with respect to the performance
of any action or omission of any action upon such advice, the Administrator shall be required to conform to the Standard of Care. For
the avoidance of doubt, it is hereby specifically understood and agreed that nothing in this Section shall be construed as imposing upon
the Administrator any obligation to seek such advice of counsel or to act in accordance with such advice when received.

The Administrator shall be responsible
for the performance only of such duties as are set forth in this Agreement and, except as otherwise provided under Section 3, 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 a 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 Funds by entities other than the Administrator
prior to the Administrator’s appointment as administrator for the Funds. Unless directly caused by or resulting from, and then only
to the extent of, the failure of the Administrator to exercise the 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 hereunder.