Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 5

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 5
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 In this capacity the Initial Seed Creation Investor will act as a statutory underwriter in connection
with this purchase. The XRP acquired in connection with the Initial Seed Creation Baskets will be held by the XRP Custodians. The actual
price of the Shares comprising the Initial Seed Creation Baskets will be determined as of the effective date of the registration statement
of which this Prospectus forms a part as described in this Prospectus, and such Shares could be sold at different prices if sold by the
Initial Seed Creation Investor at different times. It is anticipated that the Initial Seed Creation Investor may redeem its Shares or
sell its Shares to a third party in the weeks following the initial listing of Shares on the Exchange. The Initial Seed Creation Investor
may sell some or all of its Shares pursuant to the registration statement of which this Prospectus forms a part (in such capacity, the
“Selling Shareholder”), which Shares will have been registered to permit the resale from time to time after purchase. The
Trust will not receive any of the proceeds from the resale or redemption by the Selling Shareholder of these Shares. The Sponsor will
not receive from the Trust or any of its affiliates any fee or other compensation in connection with the resale of these Shares.

Shareholders who decide
to buy or sell Shares of the Trust will place their trade orders through their brokers and will incur customary brokerage commissions
and charges. Prior to this offering, there has been no public market for the Shares. The Shares are expected to be listed for trading,
subject to notice of issuance, on the Exchange under the ticker symbol “TOXR”.

The offering of an indeterminate
amount of the Trust’s Shares is registered with the Securities and Exchange Commission (the “SEC”) in accordance with
the Securities Act of 1933, as amended (the “1933 Act”). The offering is intended to be a continuous offering and
is not expected to terminate until three years from the date of the original offering, unless extended as permitted by applicable
rules under the 1933 Act. The Trust is not an investment company registered under the Investment Company Act of 1940, as amended
(the “1940 Act”), and is not subject to regulation under the 1940 Act. Investors in the Trust will not, therefore, receive
the regulatory protections afforded by investment companies registered under the 1940 Act. The Sponsor is not acting in the capacity
of an “Investment Adviser” (as defined in Section 202(a)(11) of the