Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 6

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 6
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 Investment Advisers Act of 1940,
as amended (the “Advisers Act”)), the Sponsor’s provision of services to the Trust will not be governed by the Advisers
Act, and the Sponsor is not subject to a fiduciary standard of care. The Trust is not a commodity pool for purposes of the Commodity
Exchange Act of 1936, as amended (the “CEA”), and the Sponsor is not subject to regulation by the Commodity
Futures Trading Commission (the “CFTC”) as a commodity pool operator or a commodity trading advisor. The Trust’s Shares
are neither interests in nor obligations of the Sponsor or the Trustee. Shareholders in the Trust will not benefit from the protections
afforded to investors in XRP futures contracts on regulated futures markets.

AN INVESTMENT IN THE TRUST INVOLVES SIGNIFICANT RISKS AND MAY NOT BE SUITABLE FOR SHAREHOLDERS WHO ARE NOT IN A POSITION TO ACCEPT MORE RISK THAN MAY BE INVOLVED WITH EXCHANGE-TRADED PRODUCTS THAT DO NOT HOLD XRP. THE SHARES ARE SPECULATIVE SECURITIES. THEIR PURCHASE INVOLVES A HIGH DEGREE OF RISK AND YOU COULD LOSE YOUR ENTIRE INVESTMENT. YOU SHOULD CONSIDER ALL RISK FACTORS BEFORE INVESTING IN THE TRUST. PLEASE REFER TO “ RISK FACTORS” BEGINNING ON PAGE 13.

NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OFFERED IN THIS PROSPECTUS, OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

THE TRUST IS AN “EMERGING GROWTH COMPANY” AS THAT TERM IS USED IN THE JUMPSTART OUR BUSINESS STARTUPS ACT (THE “JOBS ACT”) AND, AS SUCH, MAY ELECT TO COMPLY WITH CERTAIN REDUCED REPORTING REQUIREMENTS.

<div align='center'>The date of this Prospectus is [●], 2025

TABLE OF CONTENTS</div>

|                                                         | Page |
| STATEMENT                                               
 REGARDING FORWARD-LOOKING STATEMENTS                    |   ii |
| PROSPECTUS                                              
 SUMMARY                                                 |    1 |
| RISK                                                    
 FACTORS                                                 |   13 |
| XRP,                                                    
 XRP MARKETS AND REGULATION OF X