Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 209

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 209
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 the default or misconduct of such agents or attorneys if such agents      
 or attorneys will have been selected by the Trustee in good faith and with due care and (ii) may 
 consult with counsel, accountants and other skilled persons 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'>100</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