Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 186

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 186
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 proceeds are expected to be used by the Trust to
purchase XRP at or prior to the listing of the Shares on the Exchange. In this capacity, the Initial Seed Creation Investor will act
as a statutory underwriter in connection with this purchase. The XRP acquired in connection with the Initial Seed Creation Baskets
will be held by the XRP Custodians. The price of the Shares comprising the Initial Seed Creation Baskets will be determined as of
the effective date of the registration statement of which this Prospectus forms a part as described in this Prospectus, and such
Shares could be sold at different prices if sold by the Initial Seed Creation Investor at different times. It is anticipated that
the Initial Seed Creation Investor may redeem its Shares or sell its Shares to a third party in the weeks following the initial
listing of Shares on the Exchange. The Initial Seed Creation Investor may sell some or all of its Shares pursuant to the
registration statement of which this Prospectus forms a part (in such capacity, the “Selling Shareholder”), which Shares
will have been registered to permit the resale from time to time after purchase. The Trust will not receive any of the proceeds from
the resale or redemption by the Selling Shareholder of these Shares. The Sponsor will not receive from the Trust or any of its
affiliates any fee or other compensation in connection with the resale of these Shares.

<div align='center'>PLAN OF DISTRIBUTION</div>

Buying and Selling Shares

Most investors buy and
sell Shares of the Trust in secondary market transactions through brokers. Shares are expected to trade on the Exchange under the ticker
symbol “TOXR”. Shares are expected to be bought and sold throughout the trading day like other publicly traded
securities. When buying or selling Shares through a broker, most investors will incur customary brokerage commissions and charges. Shareholders
are encouraged to review the terms of their brokerage account for details on applicable charges.

Authorized Participants

The offering of the Trust’s
Shares is a best-efforts offering. The Trust continuously offers Baskets consisting of 10,000 Shares to Authorized Participants.
Authorized Participants pay a transaction fee for each order they place to create or redeem one or more Baskets.

The offering of Baskets is
being made in compliance with Rule 2310 of the FINRA Rules. Accordingly, Authorized Participants will not make any sales to any
account over which they have discretionary authority without the prior written approval of a purchaser of Shares.

The per share price of Shares
offered in B