Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 215

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 215
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 I of ERISA or Section 4975 of the Code, may be subject to any federal, state,
local, non-U.S. or other law or regulation that is substantially similar to the foregoing provisions of ERISA and the Code. Fiduciaries
of any such plans are advised to consult with their counsel prior to an investment in the Shares.

In contemplating an investment
of a portion of Plan assets in the Shares, the Plan fiduciary responsible for making such investment should carefully consider, taking
into account the facts and circumstances of the Plan, the “Risk Factors” discussed above and whether such investment is consistent
with its fiduciary responsibilities. The Plan fiduciary should consider, among other issues, whether: (1) the fiduciary has the authority
to make the investment under the appropriate governing plan instrument; (2) the investment would constitute a direct or indirect
non-exempt prohibited transaction with a “party in interest” or “disqualified person” within the meaning of ERISA
and Section 4975 of the Code respectively; (3) the investment is in accordance with the Plan’s funding objectives; and
(4) such investment is appropriate for the Plan under the general fiduciary standards of investment prudence and diversification,
taking into account the overall investment policy of the Plan, the composition of the Plan’s investment portfolio and the Plan’s
need for sufficient liquidity to pay benefits when due. When evaluating the prudence of an investment in the Shares, the Plan fiduciary
should consider the DOL’s regulation on investment duties, which can be found at 29 C.F.R. § 2550.404a-1.

By investing, each Plan shall
be deemed to acknowledge and agree that: (a) none of the Sponsor, the Trustee, the XRP Custodian or any of their respective affiliates
(the “Transaction Parties”) has through this report and related materials provided any investment advice within the meaning
of Section 3(21) of ERISA to the Plan in connection with the decision to purchase, acquire, hold or dispose of such Shares;
and (b) the information provided in this report and related materials will not make a Transaction Party a fiduciary to the Plan.

It is anticipated that the
Shares will constitute “publicly-held offered securities” as defined in Department of Labor Regulations §2510.3-101(b)(2).
Accordingly, Shares purchased by a Plan, and not the Plan’s interest in the underlying X