Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 261

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 261
---
 the Trust’s Trading Balance.

“Trading Balance”: A trading balance
maintained by the Prime Broker or an XRP Counterparty where portions of the Trust’s XRP temporarily may be held outside of cold
storage, including in circumstances in which it is necessary in connection with creations or redemptions of Baskets or to sell XRP to
pay Trust expenses.

“Trading Platform”: The Prime Broker’s
execution platform.

“Transaction Parties”: The Sponsor, the Trustee, the
XRP Custodians or any of their respective affiliates.

“Transfer Agent”: The Bank of
New York Mellon.

“Trust”: 21Shares XRP ETF.

“Trust Agreement”: Amended and Restated
Trust Agreement of the Trust.

“Trust Estate”: All of the XRP
on deposit in the Custody Account and proceeds from the sale of XRP, as well as any other rights of the Trust pursuant to any agreements,
other than the Trust Agreement, to which the Trust is a party.

“Trustee”: CSC Delaware Trust Company,
a Delaware trust company.

“TWAP Period”: The 60 minutes leading
up to 4:00 p.m. London time.

“UNL”: Unique Node List.

“U.S. Treasury Department”: U.S. Department of the Treasury.

“XRP”: A digital asset based on the
open-source protocol of the peer-to-peer XRP computer network.

“XRP Counterparty”: A designated
third party who is not an Authorized Participant but who may be an affiliate of an Authorized Participant, or the Prime Broker or Lender,
as applicable, with whom the Sponsor has entered into an agreement on behalf of the Trust, that will, acting as a counterparty, deliver,
receive or convert to U.S. dollars the XRP related to the Authorized Participant’s creation or redemption order.

“XRP Custodian”: Any person from
time to time engaged to provide custodian, security or related services to the Trust’s XRP and cash assets pursuant to authority
delegated by the Sponsor.

“XRP Ledger”: A distributed ledger
upon which XRP transactions are processed and settled.

“You”: The owner or holder of Shares.

<div align='center'>A-6

21SHARES XRP ETF

SHARES

PROSPECTUS

[●], 2025</div>

Until 25 calendar days
after the date of this Prospectus, all dealers that effect transactions in these securities, whether or not participating in this offering,
may be required