Company: TOXR
Filing Date: 2025-12-08
Form Type: S-1/A
Source: 0001213900-25-118924
Chunk: 225

Company: 21Shares XRP ETF
Filing Date: 2025-12-08
Form: S-1/A
Chunk 225
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 by the Exchange seeking approval to amend its listing rules.

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, among others: (i) other than with respect to claims and losses arising from spot trading
of XRP, fraud, willful misconduct, and 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 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 XRP Custodian’s liability; and (iv) in respect of any
incidental, indirect, special, punitive, consequential or similar losses, the Coinbase Custodian shall not be liable, even if the Coinbase
Custodian has been advised of or knew of 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 applicable law or
willful misconduct. The Coinbase Custodian is not liable for delays, suspension of operations, failure in performance, or interruption
of service to the extent it is directly due to a cause or condition beyond the reasonable control of the Coinbase Custodian. In the event
of potential losses incurred by the Trust as a result of the Coinbase Custodian losing control of the Trust’s XRP or failing to
properly execute instructions on behalf of the Trust, the Coinbase Custodian’s liability