21Shares XRP ETF 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information The Shares are listed on the Exchange under the symbol “TOXR” and have been listed since December 11, 2025. Holders As of December 31, 2025, there was approximately one DTC participating shareholder of record of the Trust. Because most of the Trust’s Shares are held by brokers and other institutions on behalf of shareholders, we are unable to estimate the total number of shareholders represented by these record holders. 62 Sales of Unregistered Securities and Use of Proceeds of Registered Securities On December 10, 2025, 21Shares US LLC, in its capacity as Initial Seed Creation Investor, purchased the initial Seed Creation Baskets comprising 20,000 shares (the “Initial Seed Creation Baskets”) at a price of $20.33 per share. The total proceeds to the Trust from the sale of the Seed Creation Baskets were $406,600. Such sale was made in a private placement exempt from registration in reliance on Section 4(a)(2) of the Securities Act in a transaction by an issuer not involving a public offering. Delivery of the Initial Seed Creation Baskets was made on December 10, 2025. Proceeds received by the Trust from the issuance of Baskets consist of XRP. Such deposits are held by the XRP Custodians on behalf of the Trust until (i) delivered out in connection with redemptions of Baskets; or (ii) transferred or sold by the Sponsor, which may be facilitated by the XRP Custodians, to pay fees due to the Sponsor and Trust expenses and liabilities not assumed by the Sponsor. The Trust does not purchase Shares directly from its Shareholders. In connection with the Trust’s redemption of Creation Baskets held by Authorized Participants, the Trust redeemed 0 Creation Baskets (comprising 0 Shares) during the quarter ended December 31, 2025. The following table summarizes the redemptions by Authorized Participants during the period: Period Total Shares Redeemed Average Price Per Share Maximum number of shares that may yet be purchased October 1, 2025 - October 31, 2025 - $ - N/A November 1, 2025 - November 30, 2025 - $ - N/A December 1, 2025 - December 31, 2025 - $ - N/A Item 6. [Reserved]