Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 52

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 52
---
 Services Agreement, the Coinbase Custodian’s liability is as follows: (i) other than with respect to claims and
losses arising from spot trading of XRP, or fraud or willful misconduct, the Mutually Capped Liabilities, the Coinbase
Custodian’s aggregate liability under the Coinbase Custodial Services Agreement shall not exceed the greater of (A) the
greater of (x) $100 million and (y) the aggregate fees paid by the Trust to the Coinbase Custodian in the
12 months prior to the event giving rise to the Coinbase Custodian’s liability, and (B) the value of the affected
XRP or cash giving rise to the Coinbase Custodian’s liability; (ii) the Coinbase Custodian’s aggregate liability in
respect of each cold storage address shall not exceed $100 million; (iii) in respect of the Coinbase Custodian’s
obligations to indemnify the Trust and its affiliates against third-party claims and losses to the extent arising out of or relating
to, among others, the Coinbase Custodian’s gross negligence, violation of its confidentiality, data protection and/or
information security obligations, or violation of any law, rule or regulation with respect to the provision of its services (the
“Mutually Capped Liabilities”), the Coinbase Custodian’s liability shall not exceed the greater of
(A) $5 million and (B) the aggregate fees paid by the Trust to the Coinbase Custodian in the 12 months prior to
the event giving rise to the Coinbase Custodian’s liability; and (iv) in respect of any incidental, indirect, special,
punitive, consequential or similar losses, the Coinbase Custodian is not liable, even if the Coinbase Custodian has been advised of
or knew or should have known of the possibility thereof. In general, the Coinbase Custodian is not liable under the Coinbase
Custodial Services Agreement unless in the event of its negligence, fraud, material violation of applicable law or willful
misconduct. The Coinbase Custodian is not liable for delays, suspension of operations, failure in performance, or interruption of
service to the extent it is directly due to a cause or condition beyond the reasonable control of the Coinbase Custodian. In the
event of potential losses incurred by the Trust as a result of the Coinbase Custodian losing control of the Trust’s XRP or
failing to properly execute instructions on behalf of the Trust, the Coinbase Custodian’s liability with respect to the Trust
will be subject to certain limitations