Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 225

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 225
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 operates a 1:1 redemption facility and solely holds reserve assets that are in line with the prevailing
regulations enforced for government security money market funds in major jurisdictions such as the United States, United Kingdom and
the European Union.

“Additional
Trust Expenses”: Certain extraordinary, non-recurring expenses that are not Sponsor-paid
Expenses, which the Sponsor does not assume, including, but not limited to, tax and governmental
charges, expenses and costs of any extraordinary services performed by the Sponsor (or any
other service provider) on behalf of the Trust to protect the Trust or the interests of Shareholders,
any indemnification of the XRP Custodian, Administrator or other agents, service providers
or counterparties of the Trust, the fees and expenses related to the listing, and extraordinary
legal fees and expenses, including any legal fees and expenses incurred in connection with
litigation, regulatory enforcement or investigation matters.

“Administrator”: [●].

“Advisers Act”: The Investment
Advisers Act of 1940.

“API”:
Application Programming Interface.

“Article 8”: Article 8 of
the New York Uniform Commercial Code.

“ASC”: Accounting Standards Codification.

“ASC 820-10”: Accounting Standards
Codification 820-10, Fair Value Measurements and Disclosures.

“AUL”: Authorized User List.

“Authorized Amount”: An amount to be determined, on
a daily basis, based on the Lender’s sole discretion considering factors including, but not limited to, availability of financing
and credit due diligence of the Trust.

“Authorized Participant”: One that
purchases or redeems Baskets from or to the Trust.

“Available Balance”: The then-current amount available
to the Trust to place orders.

“Basket”: A block of [●] Shares
used by the Trust to issue or redeem Shares.

<div align='center'>A-1</div>

“Basket Deposit”: The total deposit
required to create each Basket.

“Benchmark Licensing Agreement”:
The licensing agreement by and between the Sponsor and the Benchmark Provider relating to the use of the Pricing Benchmark by the Sponsor
and its permitted affiliates.

“Benchmark Provider”: CF Benchmarks
Ltd.

“BMR”: UK Benchmarks Regulation.

“BSA”: U.S. Bank Secrecy
Act.

“Binance Complaint ”: A June 2023
complaint brought by the SEC against Binance alleging violations of variety of securities laws.

“Business Day”: Any day other
than a day when the