Company: TOXR
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001213900-25-079981
Chunk: 151

Company: 21Shares XRP ETF
Filing Date: 2025-08-22
Form: S-1/A
Chunk 151
---
 Sponsor-paid expenses, 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 Sponsor will not, however,
assume certain extraordinary, non-recurring expenses that are not Sponsor-paid Expenses, including, but not limited to, taxes and governmental
charges, expenses and costs of any extraordinary services performed by the Sponsor (or any other service provider) on behalf of the Trust
to protect the Trust or the interests of Shareholders, any indemnification of the XRP Custodian, Administrator or other agents, service
providers or counterparties of the Trust, the fees and expenses related to the listing, and extraordinary legal fees and expenses, including
any legal fees and expenses incurred in connection with litigation, regulatory enforcement or investigation matters (collectively, “Additional
Trust Expenses”). Of the Sponsor-paid Expenses, ordinary course legal fees and expenses shall be subject to a cap of not in excess
of $[●] per annum. In the Sponsor’s sole discretion, all or any portion of a Sponsor-paid Expense may be redesignated as
an Additional Trust Expense if, among other reasons, the Sponsor determines that a Sponsor-paid Expense is an extraordinary, non-recurring
expense of the Trust.

<div align='center'>71</div>

After the payment of the Sponsor
Fee to the Sponsor, the Sponsor may elect to convert some or all of the Sponsor Fee into cash by selling this XRP at market prices, in
the Sponsor’s sole discretion. Due to the variance in market prices for XRP, the rate at which the Sponsor converts XRP to cash
may differ from the rate at which the Sponsor Fee was initially paid in XRP.

The XRP Custodian will
assume the transfer fees associated with the transfer of XRP to the Sponsor with respect to the Sponsor Fee, and any further expenses
associated with such transfer will be assumed by the Sponsor. The Trust shall not be responsible for any fees and expenses associated
with the transfer of XRP to pay the Sponsor Fee and Additional Trust Expenses, including any fees and expenses incurred by the Sponsor
to convert XRP received in payment of the Sponsor Fee into cash.

Pursuant to the Trust Agreement,
the Sponsor or its delegates will direct the XRP Custodian to transfer XRP from the Trust’s Cold Vault Balance as needed to pay
the Sponsor’s Fee and Additional Trust Expenses, if any. The Sponsor or its delegates will endeavor to transfer the smallest