Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 162

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 162
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 identified another depository that is willing to act in such capacity;              |

| ● | the Trustee                                                                                       
 elects to terminate the Trust after the Sponsor is conclusively deemed to have resigned effective 
 immediately as a result of the Sponsor being adjudged bankrupt or insolvent, or a receiver        
 of the Sponsor or of its property being appointed, or a trustee or liquidator or any public       
 officer taking charge or control of the Sponsor or of its property or affairs for the purpose     
 of rehabilitation, conservation or liquidation and a successor sponsor has not been appointed;    
 or                                                                                                |

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| ● | the Sponsor                                                                                      
 elects to terminate the Trust after the Trustee, Administrator or any of the XRP Custodians      
 (or any successor trustee, administrator or custodian) resigns or otherwise ceases to be         
 the trustee, administrator or custodian of the Trust, as applicable, and no replacement trustee, 
 administrator and/or custodian acceptable to the Sponsor is engaged.                             |

In respect of termination
events that rely on Sponsor determinations to terminate the Trust (e.g., if the SEC determines that the Trust is an investment company
under the 1940 Act; the CFTC determines that the Trust is a commodity pool under the CEA; the Trust is determined to be a money transmitter
under the regulations promulgated by FinCEN or require a BitLicense under New York law; the Trust fails to qualify for treatment,
or ceases to be treated, as a grantor trust for U.S. federal income tax purposes; or, following a resignation by a trustee or custodian,
the Sponsor determines that no replacement is acceptable to it), the Sponsor may consider, without limitation, the profitability to the
Sponsor and other service providers of the operation of the Trust, any obstacles or costs relating to the operation or regulatory compliance
of the Trust relating to the determination’s triggering event, and the ability to market the Trust to investors. To the extent
that the Sponsor determines to continue operation of the Trust following a determination’s triggering event, the Trust will be
required to alter its operations to comply with the triggering event. In the instance of a determination that the Trust is an investment
company, the Trust and Sponsor would have to comply with the regulations and disclosure and reporting requirements applicable to investment
companies and investment advisers. In the instance of a determination that the Trust is a commodity pool, the Trust and the Sponsor would
have to comply with regulations and