Company: TOXR
Filing Date: 2025-12-08
Form Type: S-1/A
Source: 0001213900-25-118924
Chunk: 8

Company: 21Shares XRP ETF
Filing Date: 2025-12-08
Form: S-1/A
Chunk 8
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 considerations discussed in this Prospectus, general economic, market and business conditions, changes in laws
or regulations, including those concerning taxes, made by governmental authorities or regulatory bodies, and other world economic and
political developments. Consequently, all the forward-looking statements made in this Prospectus are qualified by these cautionary statements,
and there can be no assurance that actual results or developments the Sponsor anticipates to occur will be realized or, even if substantially
realized, that they will result in the expected consequences to, or have the expected effects on, the Trust’s operations or the
value of its Shares.

Should one or more of these
risks discussed in “Risk Factors” or other uncertainties materialize, or should underlying assumptions prove incorrect, actual
outcomes may vary materially from those described in forward-looking statements. Forward-looking statements are made based on the Sponsor’s
beliefs, estimates and opinions on the date the statements are made, and neither the Trust nor the Sponsor is under a duty or undertakes
an obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, other
than as required by applicable laws. Investors are therefore cautioned against placing undue reliance on forward-looking statements.

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PROSPECTUS SUMMARY</div>

This is only a summary of the Prospectus and, while it contains material information about the Trust and its Shares, it does not contain or summarize all of the information about the Trust and the Shares contained in this Prospectus that is material and/or which may be important to you. You should read this entire Prospectus before making an investment decision about the Shares.

See “Glossary of Defined Terms” for an explanation of certain industry and technical terms used in this Prospectus.

Overview of the Trust

The 21Shares XRP ETF (the
“Trust”) is an exchange-traded fund that issues common shares of beneficial interest (the “Shares”) that trade
on the Cboe BZX Exchange, Inc. (the “Exchange”). The Trust’s investment objective is to seek to track the performance
of XRP, as measured by the performance of the CME CF XRP—Dollar Reference Rate — New York Variant (XRPUSD_NY)
(the “Pricing Benchmark”), as adjusted for the Trust’s expenses and other liabilities. The Pricing Benchmark is calculated
by CF Benchmarks Ltd. (the “Benchmark Provider”). The Pricing Benchmark is designed to track the performance of XRP in U.S. dollars.
The