Company: TOXR
Filing Date: 2025-11-07
Form Type: S-1/A
Source: 0001213900-25-107665
Chunk: 210

Company: 21Shares XRP ETF
Filing Date: 2025-11-07
Form: S-1/A
Chunk 210
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 without           
 limitation as to number (including fractional shares), to such persons and for such amount      
 of consideration, subject to any restriction set forth in the Trust Agreement, if any, at       
 such time or times and on such terms as the Sponsor may deem appropriate, (d) to divide         
 or combine the shares into a greater or lesser number without thereby materially changing       
 the proportionate beneficial interest of the shares in the assets held, and (e) to take         
 such other action with respect to the shares as the Sponsor may deem desirable.                 |

To the extent that at law
(common or statutory) or in equity, the Sponsor has duties (including fiduciary duties) and liabilities relating thereto to the Trust,
the Shareholders or to any other person, the Sponsor will not be liable to the Trust, the Shareholders or to any other person for its
good faith reliance on the provisions of the Trust Agreement or this Prospectus unless such reliance constitutes gross negligence, bad
faith, or willful misconduct on the part of the Sponsor.

<div align='center'>99

LIABILITY AND INDEMNIFICATION</div>

Trustee

As further discussed in the
Trust Agreement, the Trustee will not be liable for the acts or omissions of the Sponsor, nor will the Trustee be liable for supervising
or monitoring the performance and the duties and obligations of the Sponsor or the Trust under the Trust Agreement. The Trustee will
not be personally liable under any circumstances, except for its own willful misconduct, bad faith or gross negligence. In particular,
but not by way of limitation:

| (a) | the Trustee                                                                              
 will not be personally liable for any error of judgment made in good faith except to the 
 extent such error of judgment constitutes gross negligence on its part;                  |

| (b) | no provision                                                                                      
 of the Trust Agreement will require the Trustee to expend or risk its personal funds or otherwise 
 incur any financial liability in the performance of its rights or powers hereunder, if the        
 Trustee shall have reasonable grounds for believing that the payment of such funds or adequate    
 indemnity against such risk or liability is not reasonably assured or provided to it;             |

| (c) | under no circumstances                                                                       
 will the Trustee be personally liable for any representation, warranty, covenant, agreement, 
 or indebtedness of the Trust;                                                                |

| (d) | the Trustee                                                                                
 will not be personally responsible for or in respect of the validity or sufficiency of