Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 191

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 191
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 Sponsor will have full
power and authority, in its sole discretion, without seeking the approval of the Trustee or the Shareholders (a) to establish and
designate and to change in any manner and to fix such preferences, voting powers, rights, duties and privileges of the Trust as the Sponsor
may from time to time determine, (b) to authorize the division of the beneficial interest in the Trust into an unlimited amount
of Shares, with or without par value, as the Sponsor will determine, (c) to authorize the issuance of the Shares without limitation
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