Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 30

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 30
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, as well as information found in documents incorporated by reference in this Prospectus, before you decide to purchase any Shares. These risk factors may be amended, supplemented or superseded from time to time by risk factors contained in any periodic report, prospectus supplement, post-effective amendment or in other reports filed with the SEC in the future. See “Glossary of Defined Terms” for an explanation of certain industry and technical terms used in this Prospectus.

Risks Associated with XRP and the XRP Ledger

The value of the Shares relates directly to the price of XRP, which may be highly volatile and subject to fluctuations due to a number of factors.

The value of the Shares relates
directly to the value of the XRP held by the Trust and fluctuations in the price of XRP could adversely affect the value of the Shares.
The market price of XRP may be highly volatile, and subject to a number of factors, including:

| ● | an increase in the XRP supply that is publicly available for 
 trading;                                                     |

| ● | manipulative trading activity on digital asset trading platforms,                                
 which, in many cases, are largely unregulated or may not be complying with existing regulations; |

| ● | the adoption of XRP as a medium of exchange, store-of-value                                                            
 or other consumptive asset and the maintenance and development of the open-source software protocol of the XRP Ledger; |

| ● | forks in the XRP Ledger; |

| ● | investors’ expectations with respect to interest rates                                                   
 and rates of inflation experienced by fiat currencies or digital assets (including, in particular, XRP); |

| ● | consumer preferences and perceptions of XRP specifically and                                               
 digital assets generally fiat currency withdrawal and deposit policies on digital asset trading platforms; |

| ● | the liquidity of digital asset trading platforms and any increase 
 or decrease in trading volume on digital asset trading platforms; |

| ● | investment and trading activities of large investors that 
 invest directly or indirectly in XRP;                     |

| ● | a “short squeeze” resulting from speculation on                                                    
 the price of XRP, if aggregate short exposure exceeds the number of Shares available for purchase; |

| ● | a final determination that XRP is a security or changes in 
 XRP’s status under the federal securities laws;            |

| ● | monetary policies of governments, trade restrictions, currency                                                                          
 devaluations and revaluations and regulatory measures or enforcement actions, if any, that restrict the use of XRP as a