Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 235

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 235
---
 receipt, acquisition, sale, or exchange of any financial interest in
virtual currency, which includes a Shareholder’s interest in XRP held by the Trust.

Taxation for Shareholders in Jurisdictions Other Than the United States

Prospective purchasers of
Shares that are based in or acting out of a jurisdiction other than the United States are advised to consult their own tax advisers
as to the tax consequences under the laws of such jurisdiction (or any other jurisdiction other than the United States in which
they are subject to taxation) of their purchase, holding, sale and redemption of or any other dealing in Shares and, in particular, as
to whether any value added tax, other consumption tax or transfer tax is payable in relation to such purchase, holding, sale, redemption
or other dealing.

The foregoing is only a general
summary of the material U.S. federal income tax consequences associated with the purchase, ownership and disposition of Shares by
a U.S. Shareholder. Each prospective Shareholder should consult the Shareholder’s own tax advisor concerning the U.S. federal,
state, local, and non-U.S. tax considerations relevant to an investment in Shares in the Shareholder’s particular tax situation.

<div align='center'>PROSPECTIVE SHAREHOLDERS ARE URGED TO CONSULT THEIR LEGAL AND TAX ADVISERS BEFORE DECIDING WHETHER TO INVEST IN THE SHARES OF THE TRUST.

113

PURCHASES BY EMPLOYEE BENEFIT PLANS</div>

The Employee Retirement Income
Security Act of 1974 (“ERISA”) and/or Section 4975 of the Code impose certain requirements on: (i) employee
benefit plans and certain other plans and arrangements, including IRAs and annuities, Keogh plans and certain collective investment funds
or insurance company general or separate accounts in which such plans or arrangements are invested, that are subject to Title Iof
ERISA and/or Section 4975 of the Code (collectively, “Plans”); and (ii) persons who are fiduciaries with respect
to the investment of assets treated as “plan assets” within the meaning of U.S. Department of Labor (the “DOL”)
regulation 29 C.F.R. § 2510.3-101, as modified by Section 3(42) of ERISA (the “Plan Assets Regulation”), of
a Plan. Investments by Plans are subject to the fiduciary requirements and the applicability of prohibited transaction restrictions under
ER