Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 255

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 255
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 Asset”: A digital asset
that is a fully reserve backed digital token, commonly referred to as a “stablecoin”, that seeks to peg its value to that
of the quote asset, where the issuer operates a 1:1 redemption facility and solely holds reserve assets that are in line with the prevailing
regulations enforced for government security money market funds in major jurisdictions such as the United States, United Kingdom and
the European Union.

“Additional
Trust Expenses”: Certain extraordinary, non-recurring expenses that are not Sponsor-paid
Expenses, which the Sponsor does not assume, including, but not limited to, taxes and governmental
charges, expenses and costs of any extraordinary services performed by the Sponsor (or any
other service provider) on behalf of the Trust to protect the Trust or the interests of Shareholders,
any indemnification of the XRP Custodians, Administrator or other agents, service providers
or counterparties of the Trust, the fees and expenses related to the listing, and extraordinary
legal fees and expenses, including any legal fees and expenses incurred in connection with
litigation, regulatory enforcement or investigation matters.

“Administrator”:
The Bank of New York Mellon.

“Advisers Act”: The Investment Advisers
Act of 1940.

“Anchorage Custodial Services Agreement”:
The custodial services agreement with the Anchorage Custodian.

“Anchorage Custodian”: Anchorage Digital Bank N.A.

“API”:
Application Programming Interface.

“Article 8”: Article 8 of the
New York Uniform Commercial Code.

“ASC”: Accounting Standards Codification.

“ASC 820-10”: Accounting Standards
Codification 820-10, Fair Value Measurements and Disclosures.

“Authorized Amount”: An amount to
be determined, on a daily basis, based on the Lender’s sole discretion considering factors including, but not limited to, availability
of financing and credit due diligence of the Trust.

“Authorized Participant”: One that
purchases or redeems Baskets from or to the Trust.

“Available Balance”: The then-current amount available
to the Trust to place orders.

“Basket”: A block of 10,000 Shares
used by the Trust to issue or redeem Shares.

<div align='center'>A-1</div>

“Basket Deposit”: The total deposit
required to create each Basket.

“Benchmark Provider”: CF Benchmarks Ltd.

“BitGo Custodian”: BitGo Trust Company,
Inc.

“BitGo Custodial Services Agreement”:
The custodial