Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 15

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 15
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 Pricing Benchmark. The most recent end-of-day NAV will be published as of the close of business by
market data vendors and will be available on the Sponsor’s website at www.21shares.com, or any successor thereto, and will
be published on the consolidated tape. None of the information on the Sponsor’s website is incorporated by reference into this Prospectus.

Any adjustments made to the Pricing Benchmark will be published on the Benchmark Provider’s website at https://www.cfbenchmarks.com/data/indices/XRPUSD_NYor any successor thereto. None of the information on the Benchmark Provider’s website is incorporated by reference into this Prospectus.

The selection of exchanges
for use in the Pricing Benchmark is based on the accessible venues where execution transactions for XRP will occur. The exchanges on
which market participants primarily execute transactions for XRP may evolve from time to time, and the Benchmark Provider may make changes
to the Constituent Exchanges comprising the Pricing Benchmark from time to time for this or other reasons. To the extent the Trust executes
transactions for XRP, the exchanges on which the Trust executes transactions do not impact the Constituent Exchanges comprising the Pricing
Benchmark. Although Constituent Exchanges are selected for inclusion within the Pricing Benchmark in accordance with specified criteria
and eligibility standards, changes to the Constituent Exchanges may result in an impact on the pricing information reflected in the Pricing
Benchmark. Once it has actual knowledge of material changes to the Constituent Exchanges used to calculate the Pricing Benchmark, the
Trust will notify the owners of the beneficial interests of Shares in a prospectus supplement or in its periodic reports under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), as applicable, and on the Sponsor’s website.

The Sponsor may, in its
sole discretion, change either the Pricing Benchmark or Benchmark Provider without Shareholder approval. Should such a change take place,
the Trust will notify the owners of the beneficial interests of Shares in a prospectus supplement or in its periodic Exchange Act reports,
as applicable, and on the Sponsor’s website.

The intra-day levels and
closing levels of the Pricing Benchmark are published by the Benchmark Provider, and the closing NAV is published by the Administrator.

The Shares are not issued,
sponsored, endorsed, sold or promoted by the Exchange, and the Exchange makes no representation regarding the advisability of investing
in the Shares.

The Benchmark Provider
makes no warranty, express or implied, as to the results to be obtained by any person or entity from