Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 241

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 241
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 |     |              |             |   |
| Paid-in capital                                                                    |     | $          | 220,676,000 |     | $            | 220,676,000 |   |
| Accumlated earnings (loss)                                                         |     |            |  56,794,750 |     |              | (11,323,810 | ) |
|                                                                                    |     | $          | 277,470,750 |     | $            | 209,352,190 |   |
| Shares issued and outstanding, no par value, unlimited amount of authorized shares |     |            |  10,000,000 |     |              |  10,000,000 |   |
| Net asset value per share                                                          |     | $          |       27.75 |     | $            |       20.94 |   |

<div align='center'>The accompanying notes
are an integral part of the financial statements.

F-4</div>

21Shares XRP ETF

STATEMENTs
oF Operations

(Expressed in United States Dollars)

|                                                                           |     |  For the period 
 January 1, 2025 |            |   |     |      For the period 
   December 20, 2024 
    (commencement of |             |   |
|:--------------------------------------------------------------------------|:----|----------------:|-----------:|:--|:----|--------------------:|------------:|:--|
|                                                                           |     |         through |            |   |     | operations) through |             |   |
|                                                                           |     |      August 31, |            |   |     |        December 31, |             |   |
|                                                                           |     |            2025 |            |   |     |                2024 |             |   |
| Expenses                                                                  |     |                 |            |   |     |                     |             |   |
| Sponsor fee                                                               |     |               $ |  4,127,149 |   |     |                   $ |     163,196 |   |
| Net investment loss                                                       |     |                 | (4,127,149 | ) |     |                     |    (163,196 | ) |
| Realized and change in unrealized gain (loss)                             |     |                 |            |   |     |                     |             |   |
| Net realized gain on investment in XRP sold to pay sponsor fee            |     |                 |