Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 261

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 261
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 NAV per Share”:
Net asset value of the Trust per Share determined on a GAAP basis.

“Redemption Order Date”: The date
a redemption order is received in satisfactory form by the Marketing Agent.

“Register”: The record of all Shareholders
and holders of the Shares in certificated form kept by the Administrator.

“Registration Rights Agreement”:
The registration rights agreement between the Trust and Ripple Markets.

“Relevant Coinbase Entities”: The
Prime Broker and its parent, Coinbase Global, Inc. together with Coinbase Inc.

“Relevant Pair”: A market that facilitates
the spot trading of the relevant digital asset against the corresponding digital asset or legal tender pair, including markets where
the digital asset or legal tender pair is made fungible with Accepted Assets.

“Relevant Transaction”: Any digital
asset base asset versus the quote asset spot trade that occurs during the TWAP Period on a Constituent Exchange in the Relevant Pair
that is reported through its API to the Benchmark Provider.

“Ripple Labs”: Ripple Labs Inc.,
a corporation incorporated and existing under the laws of Delaware.

“Ripple Markets”: Ripple Markets,
Inc.

“S.D.N.Y.”: The United States District Court for the Southern
District of New York.

“SEC”: The U.S. Securities and
Exchange Commission.

“Selling Shareholder”: The Initial
Seed Creation Investor in its capacity as a seller of some or all of the Shares pursuant to the registration statement that this Prospectus
forms a part.

“Settlement Deadline”: The Trust
must generally repay Trade Credits by 6:00 PM E.T. on the Business Day immediately following the day the Trade Credit was extended by
the Lender to the Trust (or, if such day is not a Business Day, on the next Business Day).

“Shareholders”: Holders of Shares.

“Shares”: Common shares representing
fractional undivided beneficial interests in the Trust.

“SIPC”: Securities Investor Protection
Corporation.

“SOC”: Systems and Organizational Control.

<div align='center'>A-5</div>

“Sponsor”: 21Shares US LLC, a Delaware
limited liability company.

“Sponsor Fee”: The fees paid by
the Trust to the Sponsor as compensation for services performed under the Trust Agreement.

“Sponsor Indemnified Party”: The
Sponsor and its shareholders, members, directors, officers, employees, affiliates and subsidiaries.

“Sponsor-paid Expense(s)”: The
fees and other expenses incurred by the