Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 167

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 167
---
 Trustee cannot become effective until a written acceptance of appointment is delivered by the successor
Trustee to the outgoing Trustee and the Sponsor and any fees and expenses due to the outgoing Trustee are paid or waived by the outgoing
Trustee. Following compliance with the preceding sentence, the successor will become fully vested with the rights, powers, duties and
obligations of the outgoing Trustee under the Trust Agreement, with like effect as if originally named as Trustee, and the outgoing Trustee
shall be discharged of its duties and obligations herein. If no successor Trustee shall have been appointed and shall have accepted such
appointment within forty-five (45) days after the giving of such notice of resignation or removal, the Trustee may petition any
court of competent jurisdiction for the appointment of a successor Trustee.

<div align='center'>77</div>

If the Trustee resigns and
no successor trustee is appointed within 180 days after the date the Trustee issues its notice of resignation, the Sponsor will
terminate and liquidate the Trust and distribute its remaining assets.

The Administrator

Under the Fund Administration
and Accounting Agreement, the Administrator provides necessary administrative, tax and accounting services and financial reporting for
the maintenance and operations of the Trust, including the determination of NAV, NAV per Share, Principal Market NAV and Principal Market
NAV per Share. In addition, the Administrator makes available the office space, equipment, personnel and facilities to provide such services.

The XRP Custodians

The XRP Custodians are
responsible for safekeeping all of the XRP owned by the Trust. The XRP Custodians were selected by the Sponsor. The XRP Custodians have responsibility for opening the accounts that hold the Trust’s XRP, as well as facilitating the transfer of XRP required for
the operation of the Trust.

The Transfer Agent

The Transfer 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