Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 167

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 167
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 than in connection
with the Post-Trade Financing Agreement. The Trust will not utilize leverage, derivatives or any similar arrangements in seeking to meet
its investment objective.

In the event of a fork,
the Custodial Services Agreement provides that the XRP Custodian may temporarily suspend services, and may, in their sole discretion,
determine whether or not to support (or cease supporting) either branch of the forked protocol entirely, provided that the XRP Custodian
shall use commercially reasonable efforts to avoid ceasing to support both branches of such forked protocol and will support, at a minimum,
the original digital asset. The Custodial Services Agreement provides that, other than as set forth therein, and provided that the XRP
Custodian shall make commercially reasonable efforts to assist the Trust to retrieve and/or obtain any assets related to a fork, airdrop
or similar event the XRP Custodian shall have no liability, obligation or responsibility whatsoever arising out of or relating to the
operation of the underlying software protocols relating to the XRP Ledger or an unsupported branch of a forked protocol and, accordingly,
Client acknowledges and assumes the risk of the same. The Custodial Services Agreement further provides that, unless specifically communicated
by the XRP Custodian and its affiliates through a written public statement on the Coinbase website, the XRP Custodian does not support
airdrops, metacoins, colored coins, side chains, or other derivative, enhanced or forked protocols, tokens or coins, which supplement
or interact with XRP.

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Under the Trust Agreement,
the Sponsor has the right, in its sole discretion, to determine what action to take in connection with the Trust’s entitlement to
or ownership of Incidental Rights or any IR Virtual Currency, and Trust may take any lawful action necessary or desirable in connection
with the Trust’s ownership of Incidental Rights, including the acquisition of IR Virtual Currency, as determined by the Sponsor
in the Sponsor’s sole discretion, unless such action would adversely affect the status of the Trust as a grantor trust for U.S. federal
income tax purposes or otherwise be prohibited by this Trust Agreement.

With respect to any fork, airdrop
or similar event, the Sponsor will cause the Trust to irrevocably abandon the Incidental Rights or IR Virtual Currency. In the event the
Trust seeks to change this position, an application would need to be filed with the SEC by the Exchange seeking approval to amend its
listing rules.

Under