Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 171

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 171
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reements provide that the XRP Custodians may temporarily suspend services, and may, in their sole discretion,
determine whether or not to support (or cease supporting) either branch of the forked protocol entirely, provided that the XRP Custodians
shall use commercially reasonable efforts to avoid ceasing to support both branches of such forked protocol and will support, at a minimum,
the original digital asset. The Custodial Services Agreements provide that, other than as set forth therein, and provided that the XRP
Custodians shall make commercially reasonable efforts to assist the Trust to retrieve and/or obtain any assets related to a fork, airdrop
or similar event, the XRP Custodians shall have no liability, obligation or responsibility whatsoever arising out of or relating to the
operation of the underlying software protocols relating to the XRP Ledger or an unsupported branch of a forked protocol and, accordingly,
the Trust acknowledges and assumes the risk of the same. The Custodial Services Agreements further provide that, unless specifically
communicated by an XRP Custodian or its affiliates through written public statements such XRP Custodian’s website, the XRP Custodians
do not support airdrops, metacoins, colored coins, side chains, or other derivative, enhanced or forked protocols, tokens or coins, which
supplement or interact with XRP.

Under the Trust Agreement,
the Sponsor has the right, in its sole discretion, to determine what action to take in connection with the Trust’s entitlement
to or ownership of Incidental Rights or any IR Virtual Currency, and the Trust may take any lawful action necessary or desirable in connection
with the Trust’s ownership of Incidental Rights, including the acquisition of IR Virtual Currency, as determined by the Sponsor
in the Sponsor’s sole discretion, unless such action would adversely affect the status of the Trust as a grantor trust for U.S. federal
income tax purposes or otherwise be prohibited by this Trust Agreement.

<div align='center'>79</div>

With respect to any fork,
airdrop or similar event, the Sponsor will cause the Trust to irrevocably abandon the Incidental Rights or IR Virtual Currency. In the
event the Trust seeks to change this position, an application would need to be filed with the SEC by the Exchange seeking approval to
amend its listing rules.

Under each of the Custodial Services Agreements, the XRP Custodians’ liability is limited. With respect to the Coinbase Custodial Services
Ag