Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 168

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 168
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 a successor Trustee.

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If the Trustee resigns and
no successor trustee is appointed within 180 days after the date the Trustee issues its notice of resignation, the Sponsor will
terminate and liquidate the Trust and distribute its remaining assets.

The Administrator

Under the Fund Administration
and Accounting Agreement, the Administrator provides necessary administrative, tax and accounting services and financial reporting for
the maintenance and operations of the Trust, including the determination of NAV, NAV per Share, Principal Market NAV and Principal Market
NAV per Share. In addition, the Administrator makes available the office space, equipment, personnel and facilities to provide such services.

The XRP Custodians

The XRP Custodians are
responsible for safekeeping all of the XRP owned by the Trust. The XRP Custodians were selected by the Sponsor. The XRP Custodians have responsibility for opening the accounts that hold the Trust’s XRP, as well as facilitating the transfer of XRP required for
the operation of the Trust.

The Transfer Agent

The Transfer Agent: (1) facilitates
the issuance and redemption of Shares of the Trust; (2) responds to correspondence by Trust Shareholders and others relating to
its duties; (3) maintains Shareholder accounts; and (4) makes periodic reports to the Trust.

Pricing Benchmark Services

The Benchmark Provider is
responsible for analyzing XRP market data relating to the calculation and maintenance of the Pricing Benchmark.

The Marketing Agent

Foreside Global Services,
LLC (the “Marketing Agent”) is responsible for reviewing and approving the marketing materials prepared by the Sponsor for
compliance with applicable SEC and FINRA advertising laws, rules, and regulations.

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CUSTODY OF THE TRUST’S ASSETS</div>

The XRP Custodians will
keep custody of the Trust’s XRP. The transfer of XRP to and from XRP Counterparties is directed by the Sponsor.

The XRP Custodians will
keep custody of all of the Trust’s XRP, other than that which is maintained in the Trading Balance with the Prime Broker, in the
Vault Balance. The XRP Custodians will keep a substantial portion of the private keys associated with the Trust’s XRP in the Cold
Vault Balance, with any remainder of the Vault Balance held as a “Hot Vault Balance.” All of the Trust’s assets and
private keys will be held in cold storage of the