Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 225

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 225
---
 order.

“XRP Custodian”: Any person from time
to time engaged to provide custodian, security or related services to the Trust’s XRP and cash assets pursuant to authority delegated
by the Sponsor.

“XRP Ledger”: A distributed ledger
upon which XRP transactions are processed and settled.

“XRR”: CME CF Ripple — Dollar Reference
Rate.

“You”: The owner or holder of Shares.

<div align='center'>A-6

21SHARES XRP ETF

SHARES

PROSPECTUS

[●], 2025</div>

Until 25 calendar days
after the date of this Prospectus, all dealers that effect transactions in these securities, whether or not participating in this offering,
may be required to deliver a Prospectus. This is in addition to the dealers’ obligation to deliver a Prospectus when acting as underwriters
and with respect to their unsold allotments or subscriptions.

<div align='center'>PART II
INFORMATION NOT REQUIRED IN PROSPECTUS</div>

Item 13. Other Expenses of Issuance and Distribution.

The Trust shall not bear any
expenses incurred in connection with the issuance and distribution of the securities being registered. These expenses shall be paid by
21Shares US LLC, the sponsor of the Trust. Set forth below is an estimate (except as indicated) of these fees and expenses.

| SEC registration fee        |     | $ | †     |
| Listing fee (actual)        |     | $ | [   ] |
| Auditor’s fees and expenses |     | $ | [   ] |
| Legal fees and expenses     |     | $ | [   ] |
| Printing expenses           |     | $ | [   ] |
| Miscellaneous expenses      |     | $ | [   ] |
| Total                       |     | $ | [   ] |

| † | The Registrant notes that an indeterminate amount of securities                                                                   
 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).                                                                                                                      |
| * | To be provided by amendment.                                                                                                      |

Item 14. Indemnification of Directors and Officers.

The Trust Agreement will provide
that the Sponsor and its shareholders, members, directors, officers, employees, Affiliates and subsidiaries (each a “Sponsor Indemnified
Party”) will be indemnified by the Trust and held harmless against any loss, liability or expense