Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 264

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 264
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 are                                                           
 being registered to be offered or sold and that the filing fee will be calculated and paid in accordance with Rule 456(d) and 
 Rule 457(u).                                                                                                                  |

Item 14. Indemnification of Directors and Officers.

The Trust Agreement provides
that the Sponsor and its shareholders, members, directors, officers, employees, Affiliates and subsidiaries (each a “Sponsor Indemnified
Party”) shall be indemnified by the Trust and held harmless against any loss, liability or expense incurred under the Trust Agreement
without gross negligence, bad faith, or willful misconduct on the part of such Sponsor Indemnified Party arising out of or in connection
with the performance of its obligations hereunder or any actions taken in accordance with the provisions of the Trust Agreement. Any
amounts payable to a Sponsor Indemnified Party under the Trust Agreement may be payable in advance or will be secured by a lien on the
Trust. The Sponsor will not be under any obligation to appear in, prosecute or defend any legal action that in its opinion may involve
it in any expense or liability; provided, however, that the Sponsor may, in its discretion, undertake any action that it may deem necessary
or desirable in respect of the Trust Agreement and the rights and duties of the parties hereto and the interests of the Shareholders
and, in such event, the legal expenses and costs of any such action will be expenses and costs of the Trust and the Sponsor will be entitled
to be reimbursed therefor by the Trust. The obligations of the Trust to indemnify the Sponsor Indemnified Parties will survive the termination
of the Trust Agreement.

Item 15. Recent Sales of Unregistered Securities.

Prior to the listing of the Shares on the Exchange, 21Shares US LLC,
in its capacity as the Initial Seed Creation Investor, is expected to purchase the Initial Seed Creation Baskets comprising 20,000 Shares
at a per-Share price of $25.00, in a private placement exempt from registration in reliance on Section 4(a)(2) of the Securities Act in
a transaction by an issuer not involving a public offering.

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

Item 16. Exhibits and Financial Statement Schedules.

(a) Exhibits.

| Exhibit No. |     | Exhibit                                                                                               
 Description                                                                                           |
| 3.1         |     | Trust                                                                                                 
 Agreement(1)                                                                                          |
| 3.2         |