Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 254

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 254
---
. |

| (2) | Calculated                        
 using average Shares outstanding. |

| (3) | The                                                                                             
 amount shown for a share outstanding throughout the period may not agree with the change        
 in the aggregate gains and losses for the period because of the timing of sales and repurchases 
 of the Trust’s shares in relation to fluctuating market values for the Trust.                   |

| (4) | Total                                                                                      
 return is calculated based on the change in value during the period and is not annualized. 
 An individual shareholder’s return and ratios may vary from the above total returns        
 and ratios based on the timing of capital contributions to and withdrawals from the Trust. |

| (5) | Annualized. |

Per share operating performance and
total return are calculated for each permanent, non-managing class or series of Shares.

| 12. | SUBSEQUENT EVENTs |

Subsequent events have been evaluated
through November 4, 2025, the date that the Trust’s financial statements were issued and has determined that there are no material
events that would require disclosure in the financial statements.

<div align='center'>F-14

APPENDIX A

GLOSSARY OF DEFINED TERMS</div>

In this Prospectus, each of the following terms
have the meanings set forth after such term:

“1933 Act”: The Securities Act of 1933.

“1940 Act”: Investment Company Act of 1940,
as amended.

“2022 Events”: Collectively, a reference
to the following events: In the first half of 2022, Celsius Network, Voyager Digital Ltd., and Three Arrows Capital declaring bankruptcy;
In November 2022, FTX halted customer withdrawals after corroborated rumors involving liquidity issues and likely insolvency; the resignation
of FTX’s CEO and many of its affiliates filing for bankruptcy in the United States and abroad following which the U.S. Department
of Justice brought criminal fraud and other charges; the SEC and CFTC bringing civil securities and commodities fraud charges against
certain of FTX’s and its affiliates’ senior executives, including its former CEO, who was found guilty of these criminal
charges; and, several other entities in the digital asset industry filed for bankruptcy following FTX’s bankruptcy filing, such
as BlockFi Inc. and Gensis Global Capital, LLC.

“21Shares Group”: The broader structure
of 21Shares AG and its affiliates.

“abrdn”: abrdn plc, a global investment
company.

“Accepted