Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 152

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 152
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 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 Custodian
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, an affiliate of the XRP Custodian, 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 Exchange and are not approved for listing on another national securities exchange within five Business Days 
 of their delisting;                                                                                                               |

| ● | 180 days have elapsed since the Trustee notified the                                                                                 
 Sponsor of the Trustee’s election to resign or since the Sponsor removed the Trustee, and a successor trustee has not been appointed 
 and accepted its appointment;                                                                                                        |

| ● | the SEC determines that the Trust is an investment company                                                 
 under the 1940 Act, and the Sponsor has made the determination that termination of the Trust is advisable; |

| ● | the CFTC determines that the Trust is a commodity pool under                                                       
 the Commodity Exchange Act, and the Sponsor has made the determination that termination of the Trust is advisable; |

| ● | the Trust is determined to be a “money service business”                                                                                 
 under the regulations promulgated by FinCEN under the authority of the US Bank Secrecy Act and is required to comply with certain FinCEN 
 regulations thereunder or is determined to be a “money transmitter” (or equivalent designation) under the laws of any state              
 in which the Trust operates and is required to seek licensing or otherwise comply with state licensing requirements, and the Sponsor     
 has made the determination that termination of the Trust is advisable;                                                                   |

| ● | a United States regulator requires the Trust to shut 
 down or forces the Trust to liquidate its XRP;       |

| ● | any ongoing event exists that either prevents the Trust from                                                                            
 making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of XRP for purposes of determining 
 the NAV of the Trust