Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 164

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 164
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 the property of the Trust. Any Liquidating Trustee
so appointed shall have and may exercise, without further authorization or approval of any of the parties hereto, all of the powers conferred
upon the Sponsor under the terms of the Trust Agreement, subject to all of the applicable limitations, contractual and otherwise, upon
the exercise of such powers, and provided that the Liquidating Trustee shall not have general liability for the acts, omissions, obligations
and expenses of the Trust. Thereafter, in accordance with section 3808(e) of the DSTA, the affairs of the Trust shall be wound up
and all assets owned by the Trust shall be liquidated as promptly as is consistent with obtaining the fair value thereof, and the proceeds
therefrom shall be applied and distributed in the following order of priority: (a) to the expenses of liquidation and termination
and to creditors, including registered owners and beneficial owners of the Trust who are creditors, to the extent otherwise permitted
by law, in satisfaction of liabilities of the Trust (whether by payment or the making of reasonable provision for payment thereof) other
than liabilities for distributions to registered owners of the Trust, and (b) to the beneficial owners of the Trust pro rata in
accordance with their respective percentage interests of the property of the Trust. The proceeds of the liquidation of the Trust’s
assets will be distributed in cash. The Sponsor, on behalf of the Trust, will sell the Trust’s XRP assets at market prices and
will distribute to the Shareholders any amounts of the cash proceeds of the liquidation remaining after the satisfaction of all outstanding
liabilities of the Trust and the establishment of reserves for applicable taxes, other governmental charges and contingent or future
liabilities as the Sponsor will determine. Shareholders are not entitled to any of the Trust’s underlying XRP holdings upon the
dissolution of the Trust.

Upon termination of the Trust,
following completion of winding up of its business by the Sponsor, the Trustee, upon written directions of the Sponsor, will cause a
certificate of cancellation of the Trust’s Certificate of Trust to be filed in accordance with applicable Delaware law. Upon the
termination of the Trust, the Sponsor will be discharged from all obligations under the Trust Agreement except for its certain obligations
that survive termination of the Trust Agreement.

Amendments

The Trust Agreement can be
amended by the Sponsor in its sole discretion and without the Shareholders’ consent by making an amendment, a Trust Agreement supplemental
ther