Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 101

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 101
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 that could
not have been prevented or avoided by the exercise of due diligence, as long as the fact of the occurrence of such event is duly proven
or is reasonably provable, including, but not limited to natural catastrophes, fire, explosions, pandemic or local epidemic, war or other
action by a state actor, public power outages, civil unrests and conflicts, labor strikes or extreme shortages, acts of terrorism or
espionage, Domain Name System server issues outside the Anchorage Custodian’s direct control, technology attacks (e.g., DoS, DDoS,
MitM), cyber-attack or malfunction on the blockchain network or protocol, or governmental action rendering performance illegal or impossible.
The Anchorage Custodian shall not be held liable by the Trust for such non-performance or delay.

Under the Trust Agreement,
the Trustee and the Sponsor will not be liable for any liability or expense incurred absent gross negligence or willful misconduct on
the part of the Trustee or the Sponsor or breach by the Sponsor of the Trust Agreement, as the case may be. As a result, the recourse
of the Trust or the Shareholder to Trustee or the Sponsor may be limited.

<div align='center'>45</div>

The Benchmark Provider has
limited liability relating to the use of the Pricing Benchmark, impairing the ability of the Trust to recover losses relating to its
use of the Pricing Benchmark. The Benchmark Provider does not guarantee the accuracy, completeness, or performance of the Pricing Benchmark
or the data included therein and shall have no liability in connection with the Pricing Benchmark calculation, errors, omissions or interruptions
of the Pricing Benchmark or any data included therein. The Pricing Benchmark could be calculated now or in the future in a way that adversely
affects an investment in the Trust.

The value of the Shares will be adversely affected if the Trust is required to indemnify the Sponsor, the Trustee, the Administrator, the Transfer Agent, the XRP Custodians or the Prime Broker.

Each of the Sponsor, the Trustee,
the Administrator, the Transfer Agent, the XRP Custodians, and the Prime Broker has a right to be indemnified by the Trust for certain
liabilities or expenses that it incurs without gross negligence, bad faith or willful misconduct on its part. Therefore, the Sponsor,
the Trustee, the Administrator, the Transfer Agent, the XRP Custodians or the Prime Broker may require that the assets of the Trust be
sold in order to cover losses