Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 230

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 230
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“Settlement Deadline”: The Trust
must generally repay Trade Credits by 6:00 PM E.T. on the Business Day immediately following the day the Trade Credit was extended by
the Lender to the Trust (or, if such day is not a Business Day, on the next that).

“Shares”: Common shares representing
fractional undivided beneficial interests in the Trust.

“Shareholders”: Holders of Shares.

“SIPC”: Securities Investor Protection
Corporation.

“SOC”: Systems and Organizational Control.

<div align='center'>A-5</div>

“Sponsor”: 21Shares US LLC, a Delaware
limited liability company.

“Sponsor Fee”: The feed paid by
the Trust to the Sponsor as compensation for services performed under the Trust Agreement.

“Sponsor Indemnified Party”: The
Sponsor and its shareholders, members, directors, officers, employees, affiliates and subsidiaries.

“Sponsor-paid Expense(s)”: The
fees and other expenses incurred by the Trust in the ordinary course of its affairs, which the Sponsor assumes and pays, excluding taxes,
but including (i) the Marketing Fee, (ii) fees to the Administrator, (iii) fees to the XRP Custodian, (iv) fees to the Transfer
Agent, (v) fees to the Trustee, (vi) the fees and expenses related to any future listing, trading or quotation of the Shares on any listing
exchange or quotation system (including legal, marketing and audit fees and expenses), (vii) ordinary course legal fees and expenses
but not litigation-related expenses, (viii) audit fees, (ix) regulatory fees, including, if applicable, any fees relating to the
registration of the Shares under the 1933 Act or Securities Exchange Act of 1934, as amended, (x) printing and mailing
costs, (xi) costs of maintaining the Sponsor’s website and (xii) applicable license fees, provided that any expense that qualifies
as an Additional Trust Expense will be deemed to be an Additional Trust Expense and not a Sponsor-paid Expense.

“SVB”: Silicon Valley Bank.

“Trade Credit”: XRP or cash the
Trust may borrow the Lender on a short-term basis to avoid having to pre-fund the Trust’s Trading Balance.

“Trading Balance”: A trading balance
maintained by the Prime Broker or an XRP Counterparty where portions of the Trust’s XRP temporarily may be held outside of cold
storage