Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 163

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 163
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 losses to the extent arising out of or relating to,
among others, the XRP Custodian’s violation of any law, rule or regulation with respect to the provision of its services, the XRP
Custodian’s liability shall not exceed the greater of (A) $5 million and (B) the aggregate fees paid by the Trust
to the XRP 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, punitive, consequential or similar losses, the XRP Custodian is not liable, even if the XRP Custodian
has been advised of or knew or should have known of the possibility thereof. The XRP Custodian is not liable for delays, suspension of
operations, failure in performance, or interruption of service to the extent it is directly due to a cause or condition beyond the reasonable
control of the XRP Custodian. Under the Custodial Services Agreement, except in the case of its negligence, fraud, material violation
of applicable law or willful misconduct, the XRP Custodian shall not have any liability, obligation, or responsibility for any damage
or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect the Trust’s
computer or other equipment, or any phishing, spoofing or other attack, unless the XRP Custodian fails to have commercially reasonable
policies, procedures and technical controls in place to prevent such damages or interruptions.

The XRP Custodian may terminate
the Custodial Services Agreement for any reason upon providing the applicable notice to the Trust, or immediately for Cause (as defined
in the Custodial Services Agreement), including, among others, if the Trust: materially breaches the Prime Broker Agreement and such breach
remains uncured, or undergoes a bankruptcy event.

The Trust’s Transfer
Agent will facilitate the settlement of Shares in response to the placement of creation orders and redemption orders from Authorized Participants.
The Trust generally does not intend to hold cash or cash equivalents. However, there may be situations where the Trust will unexpectedly
hold cash on a temporary basis, including in connection with the settlement of creation and redemption transactions. The Trust’s
cash and cash equivalents will be held at its account at the Cash Custodian, pursuant to the Cash Custody Agreement.

The Sponsor may, in its
sole discretion, add or terminate XRP custodians at any time. The Sponsor may,