Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 175

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 175
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 an XRP
Counterparty to acquire XRP on behalf of the Trust in exchange for cash provided by the Initial Seed Creation Investor in its capacity
as Initial Seed Creation Investor. Any XRP acquired in connection with the Initial Seed Creation Baskets will be held by the XRP Custodian.
The price of the Shares comprising the Initial Seed Creation Baskets will be determined as of the effective date of the registration
statement that this Prospectus forms a part as described in this Prospectus, and such Shares could be sold at different prices if sold
by the Initial Seed Creation Investor at different times.

<div align='center'>PLAN OF DISTRIBUTION</div>

Buying and Selling Shares

Most investors buy and sell
Shares of the Trust in secondary market transactions through brokers. Shares are expected to trade on the Exchange under the ticker symbol
“[●]”. Shares are expected to be bought and sold throughout the trading day like other publicly traded securities.
When buying or selling Shares through a broker, most investors will incur customary brokerage commissions and charges. Shareholders are
encouraged to review the terms of their brokerage account for details on applicable charges.

Authorized Participants

The offering of the Trust’s
Shares is a best-efforts offering. The Trust continuously offers Baskets consisting of [●] Shares to Authorized Participants.
Authorized Participants pay a transaction fee for each order they place to create or redeem one or more Baskets.

The offering of Baskets is
being made in compliance with Rule 2310 of the FINRA Rules. Accordingly, Authorized Participants will not make any sales to any account
over which they have discretionary authority without the prior written approval of a purchaser of Shares.

<div align='center'>84</div>

The per share price of Shares
offered in Baskets on any subsequent day will be the total NAV of the Trust calculated shortly after the close of the Exchange on
that day divided by the number of issued and outstanding Shares of the Trust. An Authorized Participant is not required to sell any
specific number or dollar amount of Shares.

By executing an Authorized
Participant Agreement, an Authorized Participant becomes part of the group of parties eligible to purchase Baskets from, and put Baskets
for redemption to, the Trust. An Authorized Participant is under no obligation to create or redeem baskets or to offer to the public Shares
of any Baskets it does create.

Because new Shares can
be created and issued on an ongoing basis, at any point during the life of the Trust, a “distribution,” as such term is used