Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 160

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 160
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 investigation matters (collectively, “Additional
Trust Expenses”). Of the Sponsor-paid Expenses, ordinary course legal fees and expenses shall be subject to a cap of not in excess
of $100,000 per annum. In the Sponsor’s sole discretion, all or any portion of a Sponsor-paid Expense may be redesignated as an
Additional Trust Expense if, among other reasons, the Sponsor determines that a Sponsor-paid Expense is an extraordinary, non-recurring
expense of the Trust.

<div align='center'>74</div>

After the payment of the Sponsor
Fee to the Sponsor, the Sponsor may elect to convert some or all of the Sponsor Fee into cash by selling this XRP at market prices, in
the Sponsor’s sole discretion. Due to the variance in market prices for XRP, the rate at which the Sponsor converts XRP to cash
may differ from the rate at which the Sponsor Fee was initially paid in XRP.

The XRP Custodians will assume
the transfer fees associated with the transfer of XRP to the Sponsor with respect to the Sponsor Fee, and any further expenses associated
with such transfer will be assumed by the Sponsor. The Trust shall not be responsible for any fees and expenses associated with the transfer
of XRP to pay the Sponsor Fee and Additional Trust Expenses, including any fees and expenses incurred by the Sponsor to convert XRP received
in payment of the Sponsor Fee into cash.

Pursuant to the Trust Agreement,
the Sponsor or its delegates will direct the XRP Custodians to transfer XRP from the Trust’s Cold Vault Balance as needed to pay
the Sponsor’s Fee and Additional Trust Expenses, if any. The Sponsor or its delegates will endeavor to transfer the smallest amount
of XRP needed to pay applicable expenses. The Sponsor, in arranging for payment of Additional Trust Expenses, may in its discretion direct
that the Trust’s XRP be exchanged for U.S. Dollars. Under such circumstances, the Trust will not utilize the XRP Custodians
to arrange for the sale of the Trust’s XRP to pay the Trust’s expenses and liabilities. Rather, the Sponsor will arrange
for the Prime Broker or another third-party digital asset trading platform to exchange the Trust’s XRP for U.S. dollars in
such a situation.

Termination of the Trust

The Sponsor will notify Shareholders
at least 30 days before the date for termination of the Trust Agreement and the Trust if any of the following occurs:

| ● | Shares                                                                                                                            
 are delisted from the