Company: TOXR
Filing Date: 2025-12-08
Form Type: S-1/A
Source: 0001213900-25-118924
Chunk: 222

Company: 21Shares XRP ETF
Filing Date: 2025-12-08
Form: S-1/A
Chunk 222
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 provided however, that the Trust shall not indemnify any Indemnitee for any losses arising out of the Indemnitees’ own bad faith, gross negligence or willful misconduct in the performance of the Fund Administration and Accounting Agreement.

Transfer Agency and Services Agreement

Pursuant to the Transfer Agency
and Services Agreement, the Transfer Agent is generally responsible for the day-to-day administration of the Trust. The responsibilities
of the Transfer Agent include: (i) performing and facilitating the performance of purchases and redemption of Creation Baskets;
(ii) preparing and transmitting by means of DTC’s book entry system payments for dividends and distributions on or with respect
to the Shares, if any, declared by the Trust; (iii) maintaining the record of the name and address of the Shareholder and the number
of Shares issued by the Trust and held by the Shareholder; and (iv) recording the issuance of Shares of the Trust and maintain a
record of the total number of Shares of the Trust which are outstanding and authorized, based upon data provided to it by the Trust.

The Transfer Agency and Services Agreement will have a one-year initial term and will automatically be renewed for successive one-year periods, unless terminated pursuant to the terms of the agreement.

Custodial Services Agreements

The Coinbase Custodian, the Anchorage Custodian and the BitGo Custodian are the custodians for the Trust and hold all of the Trust’s XRP on the Trust’s behalf.

The XRP Custodians keep custody of all the Trust’s XRP, other than which is maintained in the Trading Balance with the Prime Broker, in the Cold Vault Balance. The XRP Custodians keep a substantial portion of the private keys associated with the Trust’s XRP in “cold storage” or similarly secure technology. Cold storage is a safeguarding method with multiple layers of protections and protocols, by which the private key(s) corresponding to the Trust’s XRP is (are) generated and stored in an offline manner. Private keys are generated in offline computers that are not connected to the internet so that they are resistant to being hacked. By contrast, in hot storage, the private keys are held online, where they are more accessible, leading to more efficient transfers, though they are potentially more vulnerable to being hacked. While the XRP Custodians will generally keep a substantial portion of the Trust’s XRP in cold storage on an ongoing basis, it is possible that, from time to time, portions of the Trust’s XRP will be held