Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 50

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 50
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 to cover actual or potential losses with respect to the Trust’s digital assets. The insurance maintained by the XRP Custodians is shared among all of the XRP Custodians’ customers, is not specific to the Trust or to customers holding XRP with the XRP Custodians, and may not be available or sufficient to protect the Trust from all possible losses or sources of losses.

Furthermore, under each of the Custodial Services Agreements, the XRP Custodians’ liability is limited. With respect to the Coinbase
Custodial Services Agreement, the Coinbase Custodian’s liability is as follows: (i) other than with respect to claims and
losses arising from spot trading of XRP, or fraud or willful misconduct, the Mutually Capped Liabilities, the Coinbase Custodian’s
aggregate liability under the Coinbase Custodial Services Agreement shall not exceed the greater of (A) the greater of (x) $100 million
and (y) the aggregate fees paid by the Trust to the Coinbase Custodian in the 12 months prior to the event giving rise to the
Coinbase Custodian’s liability, and (B) the value of the affected XRP or cash giving rise to the Coinbase Custodian’s
liability; (ii) the Coinbase Custodian’s aggregate liability in respect of each cold storage address shall not exceed $100 million;
(iii) in respect of the Coinbase Custodian’s obligations to indemnify the Trust and its affiliates against third-party claims
and losses to the extent arising out of or relating to, among others, the Coinbase Custodian’s gross negligence, violation of its
confidentiality, data protection and/or information security obligations, or violation of any law, rule or regulation with respect to
the provision of its services (the “Mutually Capped Liabilities”), the Coinbase Custodian’s liability shall not exceed
the greater of (A) $5 million and (B) the aggregate fees paid by the Trust to the Coinbase Custodian in the 12 months
prior to the event giving rise to the Coinbase Custodian’s liability; and (iv) in respect of any incidental, indirect, special,
punitive, consequential or similar losses, the Coinbase Custodian is not liable, even if the Coinbase Custodian has been advised of or
knew or should have known of the possibility thereof. In general, the Coinbase Custodian is not liable under the Coinbase Custodial Services
Agreement unless in the event of its negligence, fraud, material violation of