Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 210

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 210
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 incurred by reason of the sale of any XRP
or other assets held in trust hereunder; provided, however, that this provision will not protect the Sponsor against any liability to
which it would otherwise be subject by reason of its own gross negligence, bad faith, or willful misconduct. The Sponsor may rely in
good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document
of any kind prima facie properly executed and submitted to it by the Trustee, the Trustee’s counsel or by any other Person for
any matters arising hereunder. The Sponsor will in no event be deemed to have assumed or incurred any liability, duty, or obligation
to any Shareholder or to the Trustee other than as expressly provided for herein. The Trust will not incur the cost of that portion of
any insurance which insures any party against any liability, the indemnification of which is herein prohibited.

In addition, as described
in the Trust Agreement, (i) whenever a conflict of interest exists or arises between the Sponsor or any of its affiliates, on the
one hand, and the Trust, on the other hand; or (ii) whenever the Trust Agreement or any other agreement contemplated herein or therein
provides that the Sponsor will act in a manner that is, or provides terms that are, fair and reasonable to the Trust, the Sponsor will
resolve such conflict of interest, take such action or provide such terms, considering in each case the relative interest of each party
(including its own interest) to such conflict, agreement, transaction or situation and the benefits and burdens relating to such interests,
and any applicable generally accepted accounting practices or principles. In the absence of bad faith by the Sponsor, the resolution,
action or terms so made, taken or provided by the Sponsor will not constitute a breach of the Trust Agreement or any other agreement
contemplated herein or of any duty or obligation of the Sponsor at law or in equity or otherwise.

The Sponsor and its shareholders,
members, directors, officers, employees, affiliates and subsidiaries (each a “Sponsor Indemnified Party”) will be indemnified
by the Trust against any losses, judgments, liabilities, expenses and amounts paid in settlement of any claims arising out of or in connection
with the performance of its obligations under the Trust Agreement or any actions taken in accordance with the provisions of the Trust
Agreement, provided that (i) the Sponsor was acting on behalf of