Company: TOXR
Filing Date: 2025-12-08
Form Type: S-1/A
Source: 0001213900-25-118924
Chunk: 32

Company: 21Shares XRP ETF
Filing Date: 2025-12-08
Form: S-1/A
Chunk 32
---
 plans for XRP;                                                                |
| ● | failure of one or more XRP strategic partnerships with one or more            
 institutional players;                                                        |
| ● | the failure of, or the perception of risk or negative publicity around        
 one or more of the protocols based on the XRP Ledger or that make use of XRP; |

| ● | investors’                                                                                        
 expectations with respect to interest rates and rates of inflation experienced by fiat currencies 
 or digital assets (including, in particular, XRP);                                                |

| ● | consumer                                                                                   
 preferences and perceptions of XRP specifically and digital assets generally fiat currency 
 withdrawal and deposit policies on digital asset trading platforms;                        |

| ● | the liquidity                                                                                
 of digital asset trading platforms and any increase or decrease in trading volume on digital 
 asset trading platforms;                                                                     |

| ● | investment                                                                           
 and trading activities of large investors that invest directly or indirectly in XRP; |

| ● | a                                                                            
 “short squeeze” resulting from speculation on the price of XRP, if aggregate 
 short exposure exceeds the number of Shares available for purchase;          |

| ● | a                                                                                        
 final determination that XRP is offered or sold as a security or changes in XRP’s status 
 under the federal securities laws;                                                       |

| ● | monetary                                                                                           
 policies of governments, trade restrictions, currency devaluations and revaluations and regulatory 
 measures or enforcement actions, if any, that restrict the use of XRP as a form of payment         
 or the purchase of XRP on digital asset trading platforms;                                         |

| ● | global                                                                          
 or regional political, economic or financial conditions, events and situations; |

| ● | fees associated                                                                           
 with processing an XRP transaction and the speed at which transactions are settled on the 
 XRP Ledger;                                                                               |

| ● | interruptions                                                                     
 in service from or closures or failures of major digital asset trading platforms; |

| ● | decreased                                                                                            
 confidence in digital asset trading platforms due to the unregulated nature and lack of transparency 
 surrounding the operations of digital asset trading platforms;                                       |

| ● | smart                                                                                      
 contracts are new and their ongoing development and operation may result in problems or be 
 subject to errors or hacks;                                                                |

| ● | increased                                                                              
 competition from other digital assets or other forms of blockchain-based services; and |

| ● | the Trust’s                                                                                
 own acquisitions or dispositions of XRP, since there is no limit on the number of XRP that 
 the Trust may acquire.                                                                     |

<div align='center