Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 153

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 153
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| ● | the Sponsor determines that the aggregate net assets of the                                                                       
 Trust in relation to the operating expenses of the Trust make it unreasonable or imprudent to continue the business of the Trust; |

| ● | the Trust fails to qualify for treatment, or ceases to be                                                                               
 treated, as a “grantor trust” under the Code or any comparable provision of the laws of any State or other jurisdiction where           
 that treatment is sought, and the Sponsor determines that, because of that tax treatment or change in tax treatment, termination of the 
 Trust is advisable;                                                                                                                     |

| ● | 60 days have elapsed since DTC or another depository                                                                                 
 has ceased to act as depository with respect to the Shares, and the Sponsor has not identified another depository that is willing to 
 act in such capacity;                                                                                                                |

<div align='center'>72</div>

| ● | the Trustee elects to terminate the Trust after the Sponsor                                                                                  
 is conclusively deemed to have resigned effective immediately as a result of the Sponsor being adjudged bankrupt or insolvent, or a receiver 
 of the Sponsor or of its property being appointed, or a trustee or liquidator or any public officer taking charge or control of the Sponsor  
 or of its property or affairs for the purpose of rehabilitation, conservation or liquidation and a successor sponsor has not been appointed; 
 or                                                                                                                                           |

| ● | the Sponsor elects to terminate the Trust after the Trustee,                                                                             
 Administrator or the XRP Custodian (or any successor trustee, administrator or custodian) resigns or otherwise ceases to be the trustee, 
 administrator or custodian of the Trust, as applicable, and no replacement trustee, administrator and/or custodian acceptable to the     
 Sponsor is engaged.                                                                                                                      |

In respect of termination events
that rely on Sponsor determinations to terminate the Trust (e.g., if the SEC determines that the Trust is an investment company under
the 1940 Act; the CFTC determines that the Trust is a commodity pool under the CEA; the Trust is determined to be a money transmitter
under the regulations promulgated by FinCEN or require a BitLicense under New York law; the Trust fails to qualify for treatment,
or ceases to be treated, as a grantor trust for U.S. federal income tax purposes; or, following a resignation by a trustee or custodian,
the Sponsor determines that no replacement is acceptable to it), the Sponsor may consider, without limitation, the