Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 171

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 171
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 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 the Trust Agreement. 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.

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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
Agreement, the Coinbase Custodian’s liability is as follows: (i) other than with respect to claims and losses arising from
spot trading of XRP, fraud, willful misconduct, and the Mutually Capped Liabilities, the Coinbase Custodian’s aggregate liability under the Coinbase Custodial Services Agreement shall not exceed the greater of
(A) the greater of (x) $100 million and (y) the aggregate fees paid by the Trust to the Coinbase Custodian in the
12 months prior to the event giving rise to the Coinbase Custodian’s liability, and (B) the value of the affected XRP
or cash giving rise to the Coinbase Custodian’s liability; (ii) the Coinbase Custodian’s aggregate liability in respect
of each cold storage address shall not exceed $100 million; (iii) in respect of the Coinbase Custodian’s obligations
to indemnify the Trust and its affiliates against third-party claims and losses to the extent arising out of or relating to, among others,
the Coinbase Custodian’s Mutually Capped Liabilities, the Coinbase Custodian’s liability shall not exceed the greater of
(A) $5 million and (B) the aggregate fees paid by the Trust to the Coinbase Custodian in the 12 months prior to the
event giving rise to the XRP Custodian’s liability; and (iv) in respect of any incidental, indirect, special,