Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 250

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 250
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 Level 3 |   |     | Total |             |
|:-----------------------|:----|:--------|------------:|:----|:--------|:--|:----|:--------|:--|:----|:------|------------:|
| Investment in XRP      |     | $       | 277,982,779 |     | $       | - |     | $       | - |     | $     | 277,982,779 |

The following table presents
information about the Trust’s assets measured at fair value as of December 31, 2024:

| Assets (at fair value) |     | Level 1 |             |     | Level 2 |   |     | Level 3 |   |     | Total |             |
|:-----------------------|:----|:--------|------------:|:----|:--------|:--|:----|:--------|:--|:----|:------|------------:|
| Investment in XRP      |     | $       | 209,510,000 |     | $       | - |     | $       | - |     | $     | 209,510,000 |

The following represents the
changes in quantity of XRP and the respective fair value on August 31, 2025:

|                                                                           |     | Quantity 
 of XRP   |             |   |     | Fair Value |             |   |
|:--------------------------------------------------------------------------|:----|:---------|------------:|:--|:----|:-----------|------------:|:--|
| Beginning balance as of January 1, 2025                                   |     |          | 100,000,000 |   |     | $          | 209,510,000 |   |
| XRP sold                                                                  |     |          |  (1,530,000 | ) |     |            |  (3,807,773 | ) |
| Net realized gain on investment in XRP sold to pay sponsor fee            |     |          |           - |   |     |            |     431,430 |   |
| Net change in unrealized appreciation (depreciation) on investment in XRP |     |          |           - |   |     |            |  71,849,122 |   |
| Ending balance as of August 31, 2025                                      |     |          |  98,470,000 |   |     | $          |