Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 203

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 203
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 the Trustee or the Shareholders (a) to     
 establish and designate and to change in any manner and to fix such preferences, voting powers, rights, duties and privileges of the   
 Trust as the Sponsor may from time to time determine, (b) to divide the beneficial interest in the Trust into an unlimited amount      
 of shares, with or without par value, as the Sponsor will determine, (c) to issue shares without limitation as to number (including    
 fractional shares), to such persons and for such amount of consideration, subject to any restriction set forth in the Trust Agreement, 
 if any, at such time or times and on such terms as the Sponsor may deem appropriate, (d) to divide or combine the shares into a        
 greater or lesser number without thereby materially changing the proportionate beneficial interest of the shares in the assets held,   
 and (e) to take such other action with respect to the shares as the Sponsor may deem desirable.                                        |

To the extent that at law (common
or statutory) or in equity, the Sponsor has duties (including fiduciary duties) and liabilities relating thereto to the Trust, the Shareholders
or to any other person, the Sponsor will not be liable to the Trust, the Shareholders or to any other person for its good faith reliance
on the provisions of the Trust Agreement or this Prospectus unless such reliance constitutes gross negligence, bad faith, or willful misconduct
on the part of the Sponsor.

<div align='center'>99

LIABILITY AND INDEMNIFICATION</div>

Trustee

As further discussed in the
Trust Agreement, the Trustee will not be liable for the acts or omissions of the Sponsor, nor will the Trustee be liable for supervising
or monitoring the performance and the duties and obligations of the Sponsor or the Trust under the Trust Agreement. The Trustee will not
be personally liable under any circumstances, except for its own willful misconduct, bad faith or gross negligence. In particular, but
not by way of limitation:

| (a) | the Trustee will not be personally liable for any error of                                                        
 judgment made in good faith except to the extent such error of judgment constitutes gross negligence on its part; |

| (b) | no provision of the Trust Agreement will require the Trustee                                                                          
 to expend or risk its personal funds or otherwise incur any financial liability in the performance of its rights or powers hereunder, 
 if the Trustee shall have reasonable grounds for believing that the payment of such funds