Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 207

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 207
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 interest on behalf of a fiduciary in its dealings with its
beneficiaries), will be replaced entirely by the terms of the Trust Agreement (to which terms all Shareholders, by subscribing to the
Shares, are deemed to consent).

Additionally, under the Trust
Agreement, the Sponsor will have the following obligations as a sponsor of the Trust:

| ● | To enter                                                                                        
 into, execute, accept, deliver and maintain, and to cause the Trust to perform its obligations  
 under, contracts, agreements and any or all other documents and instruments incidental to       
 the Trust’s purposes, including, but not limited to, contracts with third parties to            
 provide various services, it being understood that any document or instrument so executed       
 or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted          
 on behalf of the Trust by the Sponsor; provided, however, that such services may be performed   
 by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith       
 determination that: (A) the Affiliate that it proposes to engage to perform such services       
 is qualified to do so (considering the prior experience of the Affiliate or the individuals     
 employed by the Affiliate); (B) the terms and conditions of the agreement pursuant to           
 which such Affiliate is to perform services for the Trust are no less favorable to the Trust    
 than could be obtained from equally-qualified unaffiliated third parties; and (C) the           
 maximum period covered by the agreement pursuant to which such Affiliate is to perform services 
 for the Trust shall not exceed one year, and such agreement shall be terminable without penalty 
 upon one hundred twenty (120) days’ prior written notice by the Trust;                          |

| ● | To establish,                                                                             
 maintain, deposit into, and sign checks and/or otherwise draw upon, accounts on behalf of 
 the Trust with appropriate banking and savings institutions;                              |

| ● | To cause                                                                                          
 legal title to any Trust property to be held by or in the name of the Sponsor, or to have         
 any contract entered into in the name of the Sponsor, on such terms as the Sponsor may determine, 
 with the same effect as if such property were held in the name of the Trust or such contract      
 were entered into in the name of the Trust;                                                       |

| ● | To deposit,                                                                                  
 withdraw, pay, retain and distribute the XRP on deposit in the Custody Account and proceeds  
 from the sale of XRP, as well as any other rights