Company: TOXR
Filing Date: 2025-12-08
Form Type: S-1/A
Source: 0001213900-25-118924
Chunk: 170

Company: 21Shares XRP ETF
Filing Date: 2025-12-08
Form: S-1/A
Chunk 170
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 Agent: (1) facilitates
the issuance and redemption of Shares of the Trust; (2) responds to correspondence by Trust Shareholders and others relating to
its duties; (3) maintains Shareholder accounts; and (4) makes periodic reports to the Trust.

Pricing Benchmark Services

The Benchmark Provider is
responsible for analyzing XRP market data relating to the calculation and maintenance of the Pricing Benchmark.

The Marketing Agent

Foreside Global Services,
LLC (the “Marketing Agent”) is responsible for reviewing and approving the marketing materials prepared by the Sponsor for
compliance with applicable SEC and FINRA advertising laws, rules, and regulations.

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CUSTODY OF THE TRUST’S ASSETS</div>

The XRP Custodians will keep
custody of the Trust’s XRP. The transfer of XRP to and from XRP Counterparties is directed by the Sponsor.

The XRP Custodians will keep
custody of all of the Trust’s XRP, other than that which is maintained in the Trading Balance with the Prime Broker, in the Vault
Balance. The XRP Custodians will keep a substantial portion of the private keys associated with the Trust’s XRP in the Cold Vault
Balance, with any remainder of the Vault Balance held as a “Hot Vault Balance.” All of the Trust’s assets and private
keys will be held in cold storage of the XRP Custodians on an ongoing basis, but a portion of the Trust’s assets may be held in
hot trading wallets, from time to time, in connection with the settlement of a creation or redemption transaction. Similarly secure technology
used by the XRP Custodians include a combination of Multi-Party Computation (“MPC”), Hardware Security Modules (“HSMs”),
and Cross-Domain Security (“CDS”) to safeguard digital assets. MPC is a cryptographic framework that ensures private keys
are never fully assembled or exposed during the transaction process. Instead, key shares are distributed across secure, isolated environments,
reducing single points of compromise and enabling secure, multi-party transaction approvals. HSMs are dedicated, tamper-resistant cryptographic
devices used to securely generate, store, and manage key fragments. HSMs enforce role-based access controls and support transaction signing
workflows across designated approval parties. CDS is a high-assurance security architecture originally developed for sensitive government
environments. It enhances the integrity of cold storage systems by strictly isolating secure processing domains and preventing unauthorized