Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 197

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 197
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as to number (including fractional Shares), to such persons and for such amount of consideration, subject to any restriction set forth
in the Trust Agreement, if any, at such time or times and on such terms as the Sponsor may deem appropriate, (d) to authorize the
division or combination of the Shares into a greater or lesser number without thereby materially changing the proportionate beneficial
interest of the Shares in the assets held, and (e) to take such other action with respect to the Shares as the Sponsor may deem
desirable. The ownership of Shares will be recorded on the books of the Trust or a transfer or similar agent for the Trust. No certificates
certifying the ownership of Shares will be issued except as the Sponsor may otherwise determine from time to time. The Sponsor may make
such rules as it considers appropriate for the issuance of share certificates, transfer of Shares and similar matters. The record books
of the Trust as kept by the Trust, or any transfer or similar agent, as the case may be, will be conclusive as to the identity of the
Shareholders and as to the number of Shares held from time to time by each.

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CONFLICTS OF INTEREST</div>

There are present and potential
future conflicts of interest inherent in the Trust’s structure and operation you should consider before you purchase Shares. The
Sponsor will use this notice of conflicts as a defense against any claim or other proceeding made. If the Sponsor is not able to resolve
these conflicts of interest adequately, it may impact the Trust’s ability to achieve its investment objective.

The officers, directors and
employees of the Sponsor do not devote their time exclusively to the Trust. These persons are directors, officers or employees of other
entities which may compete with the Trust for their services. They could have a conflict between their responsibilities to the Trust and
to those other entities.

The Sponsor has the authority
to manage the investments and operations of the Trust, and this may allow them to act in a way that furthers their own interests which
may create a conflict with shareholders’ best interests. Shareholders have very limited voting rights, which limits their ability
to influence matters such as amendment of the Trust Agreement, change in the Trust’s basic investment policy, dissolution of the
Trust, or the sale or distribution of the Trust’s assets.

The Sponsor serves as the sponsor
to the Trust. The Sponsor may have a conflict to the extent that its trading decisions for the Trust may be influenced by the