Company: TOXR
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001213900-25-120172
Chunk: 172

Company: 21Shares XRP ETF
Filing Date: 2025-12-10
Form: 424B3
Chunk 172
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 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 Custodian directly caused such losses. Furthermore, the
insurance maintained by the Coinbase Custodian may be insufficient to cover its liabilities to the Trust.

With respect to the BitGo Custodial Services Agreement, the BitGo Custodian and its affiliates, including their officers, directors, agents, and employees, are not liable for any lost profits, special, incidental, indirect, intangible, or consequential damages resulting from authorized or unauthorized use of the Trust or Sponsor’s site or services. This includes damages arising from any contract, tort, negligence, strict liability, or other legal grounds, even if the BitGo Custodian was previously advised of, knew, or should have known about the