Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 252

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 252
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                     |             |
| Shares issued                                          |     |               $ | - |     |                   $ | 220,676,000 |
| Shares redeemed                                        |     |                 | - |     |                     |           - |
| Net change in capital transactions issued and redeemed |     |               $ | - |     |                   $ | 220,676,000 |

| 6. | RELATED 
 PARTIES |

The Sponsor is a related party to
the Trust. The Trust’s operations are supported by its Sponsor, who is in turn supported by its parent company and affiliated companies
and external service providers.

At August 31, 2025, the Sponsor did
not own any Shares of the Trust.

<div align='center'>F-12</div>

21Shares XRP ETF

Notes to the financial statements

(Expressed in United States Dollars)

| 7. | INDEMNIFICATIONS |

The Sponsor will not be liable to the Trust, the Trustee or any Shareholder for any action taken or for refraining from taking any action in good faith, or for errors in judgment or for depreciation or loss incurred by reason of the sale of any XRP or other assets of the Trust. However, the preceding liability exclusion will not protect the Sponsor against any liability resulting from its own gross negligence, bad faith, or willful misconduct.

The Sponsor and each of its shareholders, members, directors, officers, employees, affiliates, and subsidiaries will be indemnified by the Trust and held harmless against any losses, liabilities or expenses incurred in the performance of its duties under the Declaration of Trust without gross negligence, bad faith, or willful misconduct. The Sponsor may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft, or any other document of any kind prima facie properly executed and submitted to it by the Trustee, the Trustee’s counsel or by any other person for any matters arising under the Declaration of Trust. The Sponsor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Shareholder or to the Trustee other than as expressly provided for in the Declaration of Trust. Such indemnity includes payment from the Trust of the costs and expenses incurred in defending against any indemnified claim or liability under the Declaration of Trust.

The Trustee will not be liable or
accountable to the Trust or any other person or under any agreement to which the Trust or any series of the Trust is a