Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 172

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 172
---
reement, the Coinbase Custodian’s liability is as follows: (i) other than with respect to claims and losses arising from
spot trading of XRP, fraud, willful misconduct, and the Mutually Capped Liabilities, the Coinbase Custodian’s aggregate liability under the Coinbase Custodial Services Agreement shall not exceed the greater of
(A) the greater of (x) $100 million and (y) the aggregate fees paid by the Trust to the Coinbase Custodian in the
12 months prior to the event giving rise to the Coinbase Custodian’s liability, and (B) the value of the affected XRP
or cash giving rise to the Coinbase Custodian’s liability; (ii) the Coinbase Custodian’s aggregate liability in respect
of each cold storage address shall not exceed $100 million; (iii) in respect of the Coinbase Custodian’s obligations
to indemnify the Trust and its affiliates against third-party claims and losses to the extent arising out of or relating to, among others,
the Coinbase Custodian’s Mutually Capped Liabilities, the Coinbase Custodian’s liability shall not exceed the greater of
(A) $5 million and (B) the aggregate fees paid by the Trust to the Coinbase Custodian in the 12 months prior to the
event giving rise to the XRP Custodian’s liability; and (iv) in respect of any incidental, indirect, special, punitive, consequential
or similar losses, the Coinbase Custodian shall not be liable, even if the Coinbase Custodian has been advised of or knew of or should
have known of the possibility thereof. In general, the Coinbase Custodian is not liable under the Coinbase Custodial Services Agreement
unless in the event of its negligence, fraud, material violation of applicable law or willful misconduct. The Coinbase Custodian is not
liable for delays, suspension of operations, failure in performance, or interruption of service to the extent it is directly due to a
cause or condition beyond the reasonable control of the Coinbase Custodian. In the event of potential losses incurred by the Trust as
a result of the Coinbase Custodian losing control of the Trust’s XRP or failing to properly execute instructions on behalf of the
Trust, the Coinbase Custodian’s liability with respect to the Trust will be subject to certain limitations which may allow it to
avoid liability for potential losses or may be insufficient to cover the value of such potential losses, even if the Coinbase Custodian
directly caused such losses. Furthermore, the insurance maintained by the Coinbase Custodian