Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 174

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 174
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 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.

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TRANSFER OF SHARES</div>

The 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.

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INITIAL SEED CREATION INVESTOR</div>

The Initial Seed Creation
Investor has indicated an interest in acquiring the initial seed creation baskets comprising [●] Shares (the “Initial Seed
Creation Baskets”) through an Authorized Participant shortly after the effectiveness of this registration statement that this Prospectus
forms a part. In this capacity, the Initial Seed Creation Investor will act as a statutory underwriter in connection with this purchase.
The total proceeds to the Trust from the sale of the Initial Seed Creation Baskets are expected to be $[●] and are expected to
be used by the Trust to purchase XRP at or prior to the listing of the Shares on the Exchange. The Sponsor will transact with