Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 147

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 147
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by trading volume.

The Constituent Exchanges
had an aggregate trading volume in the XRP-USD pair on a quarterly basis during the period from October 1, 2024 to September 30, 2025
as shown in the table below:

| Period  |     | Kraken |               |     | Coinbase |                |     | Bitstamp |               |     | LMAX Digital |               |     | Crypto.com |               |     | Others |                |
| 2024 Q4 |     |        | 6,391,528,706 |     |          | 31,368,749,105 |     |          | 3,041,430,171 |     |              | 2,394,271,308 |     |            |           N/A |     |        | 10,152,768,018 |
| 2025 Q1 |     |        | 9,319,490,767 |     |          | 41,673,973,223 |     |          | 4,065,856,175 |     |              | 3,367,171,133 |     |            |           N/A |     |        | 11,051,309,333 |
| 2025 Q2 |     |        | 3,938,366,778 |     |          | 17,477,545,955 |     |          | 1,872,031,783 |     |              | 4,790,242,877 |     |            | 4,076,942,014 |     |        |    794,028,761 |
| 2025 Q3 |     |        | 8,223,421,131 |     |          | 25,139,164,126 |     |          | 4,289,893,060 |     |              | 1,786,478,612 |     |            | 3,424,920,990 |     |        |  2,349,311,280 |

The table below reflects the
market share of each of the Constituent Exchanges included in the Pricing Benchmark, using data observed by the Benchmark Provider through
the public APIs of the Constituent Exchanges from October 1, 2024 to September 30, 2025:

| Period  |     | Kraken |       |   |     | Coinbase |       |   |     | Bitstamp |