Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 243

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 243
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 of the financial statements.

F-4</div>

21Shares XRP ETF

STATEMENTs oF
Operations

(Expressed in United States Dollars)

|                                                                           |     |  For the period 
 January 1, 2025 |            |   |     |      For the period 
   December 20, 2024 
    (commencement of |             |   |
|:--------------------------------------------------------------------------|:----|----------------:|-----------:|:--|:----|--------------------:|------------:|:--|
|                                                                           |     |         through |            |   |     | operations) through |             |   |
|                                                                           |     |      August 31, |            |   |     |        December 31, |             |   |
|                                                                           |     |            2025 |            |   |     |                2024 |             |   |
| Expenses                                                                  |     |                 |            |   |     |                     |             |   |
| Sponsor fee                                                               |     |               $ |  4,127,149 |   |     |                   $ |     163,196 |   |
| Net investment loss                                                       |     |                 | (4,127,149 | ) |     |                     |    (163,196 | ) |
| Realized and change in unrealized gain (loss)                             |     |                 |            |   |     |                     |             |   |
| Net realized gain on investment in XRP sold to pay sponsor fee            |     |                 |    431,430 |   |     |                     |           - |   |
| Net change in unrealized appreciation (depreciation) on investment in XRP |     |                 | 71,849,122 |   |     |                     | (11,166,000 | ) |
| Net change in unrealized appreciation (depreciation) on                   
 sponsor fee payable                                                       |     |                 |    (34,843 | ) |     |                     |       5,386 |   |
| Net realized and change in unrealized gain (loss)                         |     |                 | 72,245,709 |   |     |                     | (11,160,614 | ) |
| Net increase in net assets resulting from operations                      |     |               $ | 68,118,560 |   |     |                   $ | (11,323,810 | ) |

<div align='center'>The accompanying notes are