Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 93

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 93
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 Sponsor has established
business continuity plans and systems that it believes are reasonably designed to prevent cyber-attacks, there are inherent limitations
in such plans and systems including the possibility that certain risks have not been, or cannot be, identified. Service providers may
have limited indemnification obligations to the Trust, which could be negatively impacted as a result.

If the Trust’s holdings
of XRP are lost, stolen or destroyed under circumstances rendering a party liable to the Trust, the responsible party may not have the
financial resources, including insurance coverage, sufficient to satisfy the Trust’s claim. For example, as to a particular event
of loss, the only source of recovery for the Trust may be limited to the relevant custodian or, to the extent identifiable, other responsible
third parties (for example, a thief or terrorist), any of which may not have the financial resources (including liability insurance coverage)
to satisfy a valid claim of the Trust. Similarly, as noted below, the Trust’s Custodian has extraordinarily limited liability to
the Trust, which will adversely affect the Trust’s ability to seek recovery from them, even when they are at fault.

It may not be possible, either
because of a lack of available policies or because of prohibitive cost, for the Trust to obtain insurance that would cover losses of the
Trust’s XRP. If an uninsured loss occurs or a loss exceeds policy limits, the Trust could lose all of its assets.

The Trust’s Custodian could become insolvent.

The Trust’s assets
will be held in one or more accounts maintained for the Trust by the XRP Custodian and may in the future be held at other custodian banks
which may be located in other jurisdictions. The XRP Custodian is not a depository institution as it is not insured by the FDIC. The
insolvency of the XRP Custodian or of any broker, custodian bank or clearing corporation used by the XRP Custodian, may result in the
loss of all or a substantial portion of the Trust’s assets or in a significant delay in the Trust having access to those assets.
Additionally, custody of digital assets presents inherent and unique risks relating to access loss, theft and means of recourse in such
scenarios. These risks are applicable to the Trust’s use of Coinbase Custody.

The Trust may change the custodial
arrangements described in this Prospectus at any time without notice to Shareholders.

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The Trust is subject to risks due to its concentration