Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 223

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 223
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 is limited. With respect to the Coinbase Custodial Services Agreement, the Coinbase
Custodian’s liability is as follows: (i) other than with respect to claims and losses arising from spot trading of XRP, fraud,
willful misconduct, and the Mutually Capped Liabilities, the Coinbase Custodian’s aggregate liability under the Coinbase Custodial
Services Agreement shall not exceed the greater of (A) the greater of (x) $100 million and (y) the aggregate fees
paid by the Trust to the Coinbase Custodian in the 12 months prior to the event giving rise to the Coinbase Custodian’s liability,
and (B) the value of the affected XRP or cash giving rise to the Coinbase Custodian’s liability; (ii) the Coinbase Custodian’s
aggregate liability in respect of each cold storage address shall not exceed $100 million; (iii) in respect of the Coinbase
Custodian’s obligations to indemnify the Trust and its affiliates against third-party claims and losses to the extent arising out
of or relating to, among others, the Coinbase Custodian’s Mutually Capped Liabilities, the Coinbase Custodian’s liability
shall not exceed the greater of (A) $5 million and (B) the aggregate fees paid by the Trust to the Coinbase Custodian
in the 12 months prior to the event giving rise to the XRP Custodian’s liability; and (iv) in respect of any incidental,
indirect, special, punitive, consequential or similar losses, the Coinbase Custodian shall not be liable, even if the Coinbase Custodian
has been advised of or knew of or should have known of the possibility thereof. In general, the Coinbase Custodian is not liable under
the Coinbase Custodial Services Agreement unless in the event of its negligence, fraud, material violation of applicable law or willful
misconduct. The Coinbase Custodian is not liable for delays, suspension of operations, failure in performance, or interruption of service
to the extent it is directly due to a cause or condition beyond the reasonable control of the Coinbase Custodian. In the event of potential
losses incurred by the Trust as a result of the Coinbase Custodian losing control of the Trust’s XRP or failing to properly execute
instructions on behalf of the Trust, the Coinbase Custodian’s liability with respect to the Trust will be subject to certain limitations
which may allow it to avoid liability for potential losses or may be insufficient to cover the value of such potential losses, even if
the Coinbase