Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 262

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 262
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 Trust in the ordinary course of its affairs, which the Sponsor assumes and pays, excluding taxes,
but including (i) the Marketing Fee, (ii) fees to the Administrator, if any, (iii) fees to the XRP Custodians, (iv) fees to
the Transfer Agent, (v) fees to the Trustee, (vi) the fees and expenses related to any future listing, trading or quotation of the Shares
on any listing exchange or quotation system (including legal, marketing and audit fees and expenses), (vii) ordinary course legal
fees and expenses but not litigation-related expenses, (viii) audit fees, (ix) regulatory fees, including, if applicable, any fees
relating to the registration of the Shares under the 1933 Act or the Exchange Act, (x) printing and mailing costs, (xi) costs of
maintaining the Sponsor’s website and (xii) applicable license fees, provided that any expense that qualifies as an Additional
Trust Expense will be deemed to be an Additional Trust Expense and not a Sponsor-paid Expense.

“SVB”: Silicon Valley Bank.

“Trade Credit”: XRP or cash the
Trust may borrow from the Lender on a short-term basis to avoid having to pre-fund the Trust’s Trading Balance.

“Trading Balance”: A trading balance
maintained by the Prime Broker or an XRP Counterparty where portions of the Trust’s XRP temporarily may be held outside of cold
storage, including in circumstances in which it is necessary in connection with creations or redemptions of Baskets or to sell XRP to
pay Trust expenses.

“Trading Platform”: The Prime Broker’s
execution platform.

“Transaction Parties”: The Sponsor, the Trustee, the
XRP Custodians or any of their respective affiliates.

“Transfer Agent”: The Bank of
New York Mellon.

“Trust”: 21Shares XRP ETF.

“Trust Agreement”: Amended and Restated
Trust Agreement of the Trust.

“Trust Estate”: All of the XRP
on deposit in the Custody Account and proceeds from the sale of XRP, as well as any other rights of the Trust pursuant to any agreements,
other than the Trust Agreement, to which the Trust is a party.

“Trustee”: CSC Delaware Trust Company,
a Delaware trust company.

“TWAP Period”: The 60 minutes leading
up to 4:00 p.m. London time.

“UNL”: Unique Node List.

“U.S.