Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 200

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 200
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 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, or performing services for, the Trust and has determined, in good
faith, that such course of conduct was in the best interests of the Trust and such liability or loss was not the result of fraud, gross
negligence, bad