Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 20

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 20
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 with litigation, regulatory enforcement or investigation matters (collectively, “Additional Trust Expenses”). Of the Sponsor-paid Expenses, ordinary course legal fees and expenses shall be subject to a cap of $[●] per annum. In the Sponsor’s sole discretion, all or any portion of a Sponsor-paid Expense may be re-designated as an Additional Trust Expense if, among other reasons, the Sponsor determines that a Sponsor-paid Expense is an extraordinary, non-recurring expense of the Trust. Should such a change take place, the Trust will notify the owners of the beneficial interests of Shares in a prospectus supplement or in its periodic Exchange Act reports, as applicable, and on the Sponsor’s website. Pursuant to the Trust Agreement, the Sponsor or its delegates will direct the XRP Custodian to transfer XRP from the Trust’s Cold Vault Balance as needed to pay the Sponsor Fee and Additional Trust Expenses, if any. The Sponsor or its delegates will endeavor to transfer the smallest amount of XRP needed to pay applicable expenses. The Trust shall not be responsible for paying any fees or expenses associated with the transfer of XRP as needed to pay the Sponsor Fee or Additional Trust Expenses. Custody of the Trust’s Assets The Trust’s Custodian will maintain custody of all of the Trust’s XRP. The XRP Custodian provides insured safekeeping of digital assets using a multi-layer cold storage security platform designed to provide offline security of the digital assets held by the XRP Custodian. The XRP Custodian has insurance coverage as a subsidiary under its parent company, Coinbase Global, which procures fidelity ( e.g.crime) insurance to protect the organization from risks such as theft of funds. Specifically, the fidelity program provides coverage for the theft of funds held in hot or cold storage. The insurance program is provided by a syndicate of industry-leading insurers. The insurance program does not cover, insure or guarantee the performance of the Trust. The XRP Custodian is not FDIC-insured. The insurance maintained by the XRP Custodian is shared among all of the XRP Custodian’s customers, is not specific to the Trust or to customers holding XRP with the XRP Custodian, and may not be available or sufficient to protect the Trust from all possible losses or sources of losses. XRP may be held across multiple wallets, any of which will feature the following safety and security measures to be implemented by the XRP Custodian:

| ● | Cold Storage:    Cold storage                                                                                                            
 in the context of XRP means keeping the reserve of X