Company: TOXR
Filing Date: 2025-11-20
Form Type: S-1/A
Source: 0001213900-25-112826
Chunk: 172

Company: 21Shares XRP ETF
Filing Date: 2025-11-20
Form: S-1/A
Chunk 172
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 punitive, consequential
or similar losses, the Coinbase Custodian shall not be liable, even if the Coinbase Custodian has been advised of or knew of 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 which may allow it to
avoid liability for potential losses or may be insufficient to cover the value of such potential losses, even if the Coinbase Custodian
directly caused such losses. Furthermore, the insurance maintained by the Coinbase Custodian may be insufficient to cover its liabilities
to the Trust.

With respect to the BitGo Custodial Services Agreement, the BitGo Custodian and its affiliates, including their officers, directors, agents, and employees, are not liable for any lost profits, special, incidental, indirect, intangible, or consequential damages resulting from authorized or unauthorized use of the Trust or Sponsor’s site or services. This includes damages arising from any contract, tort, negligence, strict liability, or other legal grounds, even if the BitGo Custodian was previously advised of, knew, or should have known about the possibility of such damages. However, this exclusion of liability does not extend to cases of the BitGo Custodian’s fraud, willful misconduct, or gross negligence. In situations of gross negligence, the BitGo Custodian’s liability is specifically limited to the value of the digital assets or fiat currency that were affected by the negligence. Additionally, the total liability of the BitGo Custodian for direct damages is capped at the fees paid or payable to them under the relevant agreement during the twelve-month period immediately preceding the first incident that caused the liability.

With respect to the Anchorage Custody Agreement, except for the Anchorage Custodian’s bad acts, confidentiality obligations under the Anchorage Custody Agreement, indemnification obligations under Anchorage Custody Agreement, or obligations with respect to rights to or limits on use under the Anchorage