Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 199

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 199
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 to be selected          
 by it in good faith and with due care and employed by it, and it will not be liable for anything done, suffered or omitted in good faith 
 by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons;                                |

| (g) | except as will be expressly provided in the Trust Agreement,                                                                            
 the Trustee will act solely as a trustee under the Trust Agreement and not in its individual capacity, and all persons having any claim 
 against the Trustee by reason of the transactions contemplated by the Trust Agreement will look only to the Trust’s property for        
 payment or satisfaction thereof; and                                                                                                    |

| (h) | the Trustee will not be liable for punitive, exemplary, consequential, 
 special or other similar damages under any circumstances.              |

The Trustee or any officer,
affiliate, director, employee, or agent of the Trustee (each, an “Indemnified Person”) will be entitled to indemnification
from the Sponsor or the Trust, to the fullest extent permitted by law, from and against any and all losses, claims, taxes, damages, reasonable
expenses, and liabilities (including liabilities under State or federal securities laws) of any kind and nature whatsoever (collectively,
“Expenses”), to the extent that such Expenses arise out of or are imposed upon or asserted against such Indemnified Persons
with respect to the creation, operation or termination of the Trust, the execution, delivery or performance of the Trust Agreement or
the transactions contemplated in the Trust Agreement; provided, however, that the Sponsor and the Trust will not be required to indemnify
any Indemnified Person for any Expenses that are a result of the willful misconduct, bad faith or gross negligence of such Indemnified
Person.

<div align='center'>97</div>

The obligations of the Sponsor
and the Trust to indemnify the Indemnified Persons will survive the termination of the Trust Agreement.

Sponsor

The Sponsor will not be under
any liability to the Trust, the Trustee or any Shareholder for any action taken or for refraining from the taking of any action in good
faith pursuant to the Trust Agreement, or for errors in judgment or for depreciation or loss 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