Company: TOXR
Filing Date: 2025-12-08
Form Type: S-1/A
Source: 0001213900-25-118924
Chunk: 261

Company: 21Shares XRP ETF
Filing Date: 2025-12-08
Form: S-1/A
Chunk 261
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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. Securities and
Exchange Commission.

“Selling
Shareholder”: The Initial Seed Creation Investor in its capacity as a seller of some
or all of the Shares pursuant to the registration statement of which this Prospectus forms
a part.

“Settlement Deadline”: The Trust
must generally repay Trade Credits by 6:00 PM E.T. on the Business Day immediately following the day the Trade Credit was extended by
the Lender to the Trust (or, if such day is not a Business Day, on the next Business Day).

“Shareholders”: Holders of Shares.

“Shares”: Common shares representing
fractional undivided beneficial interests in the Trust.

“SIPC”: Securities Investor Protection
Corporation.

“SOC”: Systems and Organizational Control.

<div align='center'>A-5</div>

“Sponsor”: 21Shares US LLC, a Delaware
limited liability company.

“Sponsor Fee”: The fees paid by the
Trust to the Sponsor as compensation for services performed under the Trust Agreement.

“Sponsor Indemnified Party”: The
Sponsor and its shareholders, members, directors, officers, employees, affiliates and subsidiaries.

“Sponsor-paid Expense(s)”: The fees
and other expenses incurred by the 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