Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 5

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 5
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 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. It is
anticipated that the Initial Seed Creation Investor may redeem its Shares or sell its Shares to a third party in the weeks following
the initial listing of Shares on the Exchange. The Initial Seed Creation Investor may sell some or all of its Shares pursuant to the
registration statement that this Prospectus forms a part (in such capacity, the “Selling Shareholder”), which Shares will
have been registered to permit the resale from time to time after purchase. The Trust will not receive any of the proceeds from the resale
or redemption by the Selling Shareholder of these Shares. The Sponsor will not receive from the Trust or any of its affiliates any fee
or other compensation in connection with the resale of these Shares.

Shareholders who decide to
buy or sell Shares of the Trust will place their trade orders through their brokers and will incur customary brokerage commissions and
charges. Prior to this offering, there has been no public market for the Shares. The Shares are expected to be listed for trading, subject
to notice of issuance, on the Exchange under the ticker symbol “[●]”.

The offering of an indeterminate
amount of the Trust’s Shares is registered with the Securities and Exchange Commission (the “SEC”) in accordance with
the Securities Act of 1933, as amended (the “1933 Act”). The offering is intended to be a continuous offering and
is not expected to terminate until three years from the date of the original offering, unless extended as permitted by applicable
rules under the 1933 Act. The Trust is not an investment company registered under the Investment Company Act of 1940, as amended
(the “1940 Act”), and is not subject to regulation under the 1940 Act. Investors in the Trust will not, therefore, receive
the regulatory protections afforded by investment companies registered under the 1940 Act. The Sponsor is not acting in the capacity
of an “Investment Adviser” (as defined in Section 202(a)(11) of the 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