Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 256

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 256
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2, Celsius Network, Voyager Digital Ltd., and Three Arrows Capital declaring bankruptcy;
In November 2022, FTX halted customer withdrawals after corroborated rumors involving liquidity issues and likely insolvency; the resignation
of FTX’s CEO and many of its affiliates filing for bankruptcy in the United States and abroad following which the U.S. Department
of Justice brought criminal fraud and other charges; the SEC and CFTC bringing civil securities and commodities fraud charges against
certain of FTX’s and its affiliates’ senior executives, including its former CEO, who was found guilty of these criminal
charges; and, several other entities in the digital asset industry filed for bankruptcy following FTX’s bankruptcy filing, such
as BlockFi Inc. and Gensis Global Capital, LLC.

“21Shares Group”: The broader structure
of 21Shares AG and its affiliates.

“abrdn”: abrdn plc, a global investment
company.

“Accepted Asset”: A digital asset
that is a fully reserve backed digital token, commonly referred to as a “stablecoin”, that seeks to peg its value to that
of the quote asset, where the issuer operates a 1:1 redemption facility and solely holds reserve assets that are in line with the prevailing
regulations enforced for government security money market funds in major jurisdictions such as the United States, United Kingdom and
the European Union.

“Additional
Trust Expenses”: Certain extraordinary, non-recurring expenses that are not Sponsor-paid
Expenses, which the Sponsor does not assume, including, but not limited to, taxes and governmental
charges, expenses and costs of any extraordinary services performed by the Sponsor (or any
other service provider) on behalf of the Trust to protect the Trust or the interests of Shareholders,
any indemnification of the XRP Custodians, Administrator or other agents, service providers
or counterparties of the Trust, the fees and expenses related to the listing, and extraordinary
legal fees and expenses, including any legal fees and expenses incurred in connection with
litigation, regulatory enforcement or investigation matters.

“Administrator”: The Bank of New
York Mellon.

“Advisers Act”: The Investment Advisers
Act of 1940.

“Anchorage Custodial Services Agreement”:
The custodial services agreement with the Anchorage Custodian.

“Anchorage Custodian”: Anchorage Digital Bank N.A.

“API”:
Application Programming Interface.

“Article 8”: Article 8 of the
New York Uniform Commercial Code.

“ASC