Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 259

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 259
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 Regulation”: Regulation
29 C.F.R. § 2510.3-101, as modified by Section 3(42) of ERISA.

“Plans”: The Employee Retirement
Income Security Act of 1974 and/or Section 4975 of the Code.

“Policies”: The Sponsor’s policies
and procedures that have been implemented and are reasonably designed to ensure compliance with applicable law, including a Code of Ethics
providing guidance on conflicts of interest.

“Post-Trade Financing Agreement”:
An agreement with Coinbase Credit, Inc. pursuant to which the Trust may borrow or cash as trade credit the Lender on a short-term basis
to avoid having to pre-fund the Trust’s Trading Balance.

“Pricing Benchmark”: The performance
of the CME CF XRP—Dollar Reference Rate — New York Variant (XRPUSD_NY), as adjusted for the Trust’s expenses and other
liabilities.

“Pricing Benchmark Licensing Agreement”: The licensing agreement by and between the Sponsor and the Benchmark Provider relating to the use of the Pricing Benchmark by the Sponsor and its permitted affiliates

“Prime Broker”: Coinbase, Inc.

“Principal Market NAV”: Net asset
value of the Trust determined on a GAAP basis.

“Principal Market NAV per Share”:
Net asset value of the Trust per Share determined on a GAAP basis.

“Redemption Order Date”: The date
a redemption order is received in satisfactory form by the Marketing Agent.

“Register”: The record of all Shareholders
and holders of the Shares in certificated form kept by the Administrator.

“Registration Rights Agreement”:
The registration rights agreement between the Trust and Ripple Markets.

“Relevant Coinbase Entities”: The
Prime Broker and its parent, Coinbase Global, Inc. together with Coinbase Inc.

“Relevant Pair”: A market that facilitates
the spot trading of the relevant digital asset against the corresponding digital asset or legal tender pair, including markets where
the digital asset or legal tender pair is made fungible with Accepted Assets.

“Relevant Transaction”: Any digital
asset base asset versus the quote asset spot trade that occurs during the TWAP Period on a Constituent Exchange in the Relevant Pair
that is reported through its API to the Benchmark Provider.

“Ripple Labs”: Ripple Labs Inc.,
a corporation incorporated and existing under the laws of Delaware.

“Ripple Markets”: Ripple Markets,
Inc.

“S.D.N.Y.”: The United States District Court for the Southern
District of New York.

“SEC”: The U.S