Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 164

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 164
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 originally named as Trustee, and the outgoing Trustee shall be discharged
of its duties and obligations herein. If no successor Trustee shall have been appointed and shall have accepted such appointment within
forty-five (45) days after the giving of such notice of resignation or removal, the Trustee may petition any court of competent jurisdiction
for the appointment of a successor Trustee.

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If the Trustee resigns and
no successor trustee is appointed within 180 days after the date the Trustee issues its notice of resignation, the Sponsor will terminate
and liquidate the Trust and distribute its remaining assets.

The Administrator

Under the Fund Administration
and Accounting Agreement, the Administrator provides necessary administrative, tax and accounting services and financial reporting for
the maintenance and operations of the Trust, including the determination of NAV, NAV per Share, Principal Market NAV and Principal Market
NAV per Share. In addition, the Administrator makes available the office space, equipment, personnel and facilities to provide such services.

The XRP Custodian

The XRP Custodian is responsible
for safekeeping all of the XRP owned by the Trust. The XRP Custodian was selected by the Sponsor. The XRP Custodian has responsibility
for opening the XRP Account, as well as facilitating the transfer of XRP required for the operation of the Trust.

The Transfer Agent

The Transfer Agent: (1) facilitates
the issuance and redemption of Shares of the Trust; (2) responds to correspondence by Trust Shareholders and others relating to its
duties; (3) maintains Shareholder accounts; and (4) makes periodic reports to the Trust.

Pricing Benchmark Services

The Benchmark Provider is responsible
for analyzing XRP market data relating to the calculation and maintenance of the Pricing Benchmark.

The Marketing Agent

[●] (the “Marketing
Agent”) is responsible for reviewing and approving the marketing materials prepared by the Sponsor for compliance with applicable
SEC and FINRA advertising laws, rules, and regulations.

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CUSTODY OF THE TRUST’S ASSETS</div>

The XRP Custodian will
keep custody of the Trust’s XRP. The transfer of XRP to and from XRP Counterparties is directed by the Sponsor.

The XRP Custodian will
keep custody of all of the Trust’s XRP, other than that which is maintained in the Trading Balance with the Prime Broker, in the
Vault Balance. The XRP Custodian will