Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 252

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 252
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 Shares redeemed                                        |     |                 | - |     |                     |          - |
| Net change in capital transactions issued and redeemed |     |                 | - |     |                     | 10,000,000 |

|                                                        |     |  For the period 
 January 1, 2025 |   |     |      For the period 
   December 20, 2024 
    (commencement of |             |
|:-------------------------------------------------------|:----|----------------:|:--|:----|--------------------:|------------:|
|                                                        |     |         through |   |     | operations) through |             |
|                                                        |     |      August 31, |   |     |        December 31, |             |
|                                                        |     |            2025 |   |     |                2024 |             |
| Activity in capital transactions issued and redeemed   |     |                 |   |     |                     |             |
| Shares issued                                          |     |               $ | - |     |                   $ | 220,676,000 |
| Shares redeemed                                        |     |                 | - |     |                     |           - |
| Net change in capital transactions issued and redeemed |     |               $ | - |     |                   $ | 220,676,000 |

| 6. | RELATED 
 PARTIES |

The Sponsor is a related party
to the Trust. The Trust’s operations are supported by its Sponsor, who is in turn supported by its parent company and affiliated
companies and external service providers.

At August 31, 2025, the Sponsor
did not own any Shares of the Trust.

<div align='center'>F-12</div>

21Shares XRP ETF

Notes to the financial statements

(Expressed in United States Dollars)

| 7. | INDEMNIFICATIONS |

The Sponsor will not be liable to the Trust, the Trustee or any Shareholder for any action taken or for refraining from taking any action in good faith, or for errors in judgment or for depreciation or loss incurred by reason of the sale of any XRP or other assets of the Trust. However, the preceding liability exclusion will not protect the Sponsor against any liability resulting from its own gross negligence, bad faith, or willful misconduct.

The Sponsor and each of its shareholders, members, directors, officers, employees, affiliates, and subsidiaries will be indemnified by the Trust and held harmless against any losses, liabilities or expenses incurred in the performance of its duties under