Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 210

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 210
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 build the company’s
ETF business. Andres has over ten years of experience managing ETFs. Andres started his career in Asset Servicing at Bank of New York
Mellon covering commodity and currency ETFs.

<div align='center'>103

BOOKS AND RECORDS</div>

The Trust keeps its books of
record and account at the office of the Administrator, or such office, including of an administrative agent, as it may subsequently designate
upon notice. The books and records are open to inspection by any person who establishes to the Trust’s satisfaction that such person
is a Shareholder upon reasonable advance notice at all reasonable times during usual business hours of the Trust.

The Trust will also keep a
copy of the Trust Agreement on file in the Sponsor’s office which will be available for inspection by any Shareholder at all times
during its usual business hours upon reasonable advance notice.

<div align='center'>STATEMENTS, FILINGS, AND REPORTS TO SHAREHOLDERS</div>

After the end of each fiscal
year, the Sponsor will cause to be prepared an annual report for the Trust containing audited financial statements. The annual report
will be in such form and contain such information as will be required by applicable laws, rules and regulations and may contain such additional
information which the Sponsor determines shall be included. The annual report will be filed with the SEC and the Exchange and will be
distributed to such persons and in such manner, as is required by applicable laws, rules and regulations.

The Sponsor is responsible
for the registration and qualification of the Shares under the federal securities laws. The Sponsor will also prepare, or cause to be
prepared, and file any periodic reports or updates required under the Exchange Act. The Administrator will assist and support the
Sponsor in the preparation of such reports.

The Administrator will make
such elections, file such tax returns, and prepare, disseminate and file such tax reports, as it is advised to by its counsel or accountants
or as required from time to time by any applicable statute, rule or regulation.

<div align='center'>FISCAL YEAR</div>

The fiscal year of the Trust
is the calendar year. The Sponsor may select an alternate fiscal year.

<div align='center'>104

GOVERNING LAW; CONSENT TO DELAWARE JURISDICTION</div>

The rights of the Sponsor,
the Trust, DTC (as registered owner of the Trust’s global certificate for Shares) and the Shareholders are governed by the laws
of