Company: TOXR
Filing Date: 2025-12-08
Form Type: S-1/A
Source: 0001213900-25-118924
Chunk: 202

Company: 21Shares XRP ETF
Filing Date: 2025-12-08
Form: S-1/A
Chunk 202
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The Sponsor may, in its discretion,
suspend the right of redemption, or postpone the redemption settlement date, (1) for any period during which the Exchange is closed
other than customary weekend or holiday closings, or trading on the Exchange is suspended or restricted, (2) for any period during
which an emergency exists as a result of which delivery, disposal or evaluation of XRP is not reasonably practicable, or (3) for
such other period as the Sponsor determines to be necessary for the protection of the Shareholders. For example, the Sponsor may determine
that it is necessary to suspend redemptions to allow for the orderly liquidation of the Trust’s assets. If the Sponsor has difficulty
liquidating the Trust’s positions, e.g., because of a market disruption event, it may be appropriate to suspend redemptions until
such time as such circumstances are rectified. None of the Sponsor, the person authorized to take redemption orders in the manner provided
in the Authorized Participant Agreement, or the XRP Custodians will be liable to any person or in any way for any loss or damages that
may result from any such suspension or postponement.

Redemption orders must be
made in whole Baskets. The Sponsor acting by itself or through the person authorized to take redemption orders in the manner provided
in the Authorized Participant Agreement may, in its sole discretion, reject any redemption order (1) the Sponsor determines not
to be in proper form, (2) the fulfillment of which its counsel advises may be illegal under applicable laws and regulations, or
(3) if circumstances outside the control of the Sponsor, the person authorized to take redemption orders in the manner provided
in the Authorized Participant Agreement or the XRP Custodians make it for all practical purposes not feasible for the Shares to be delivered
under the redemption order. The Sponsor may also reject a redemption order if the number of Shares being redeemed would reduce the remaining
outstanding Shares to 10,000 Shares (i.e., 1 Basket) or less.

The Marketing Agent shall
notify the Authorized Participant of a rejection or suspension of any redemption order. The Marketing Agent is under no duty, however,
to give notification of any specific defects or irregularities nor shall the Marketing Agent or the Trust incur any liability for the
failure to give any such notification. The Trust and the Marketing Agent may not revoke a previously accepted redemption order.

Creation and Redemption Transaction Fee

To compensate the Transfer
Agent for expenses incurred in connection with the creation