TOXR prospectus supplement: XRP benchmark transition

21Shares XRP ETF filed a prospectus supplement dated July 7, 2026 that includes a Current Report on Form 8-K reporting a change in benchmark licensing.

Rhea-AI Filing Summary

21Shares XRP ETF filed a prospectus supplement dated July 7, 2026 that includes a Current Report on Form 8-K reporting a change in benchmark licensing. The Sponsor provided notice terminating the Pricing Benchmark Licensing Agreement with CF Benchmarks, effective August 31, 2026. The Pricing Benchmark (the CME CF XRP—Dollar Reference Rate — New York Variant) has been used to value the Trust's shares and calculate net asset value.

The Sponsor states it intends to enter into a licensing agreement with FTSE International Limited on or about August 24, 2026 to license FTSE index data under a similar one-year, automatically renewing license. The supplement attaches the Form 8-K (without exhibits) and notes both CF Benchmarks and FTSE are unaffiliated with the Sponsor.

Insights

Index Licensing Specialist

Termination and transition of the Trust's pricing benchmark announced; new FTSE license planned.

The filing states the Sponsor provided notice on June 30, 2026 terminating the Pricing Benchmark Licensing Agreement with CF Benchmarks, effective August 31, 2026. The Pricing Benchmark is used to value the Trust's shares and to calculate net asset value.

The Sponsor intends to license FTSE index data on or about August 24, 2026 under a one-year, automatically renewing license. The filing describes both providers as unaffiliated with the Sponsor; cash‑flow treatment and contractual terms beyond term/renewal are not disclosed in the excerpt.

ETF Operations Analyst

Operational benchmark change may require implementation steps around late August 2026.

The supplement specifies timing: termination effective August 31, 2026 and intended FTSE licensing on or about August 24, 2026. The Pricing Benchmark is used daily to value shares and calculate NAV.

Operational items to watch in subsequent filings include any amendments, transition plans, or disclosures about methodology alignment between the CME CF benchmark and FTSE index data; timing and specific migration steps are not provided in this excerpt.

Key Figures

Registration No.: 333-282942 Form 8-K earliest event date: June 30, 2026 Supplement date: July 7, 2026 +3 more

6 metrics

Registration No. 333-282942 Prospectus supplement cover

Form 8-K earliest event date June 30, 2026 Date of earliest event reported

Supplement date July 7, 2026 Prospectus Supplement date

CF Benchmarks termination effective August 31, 2026 Termination of Pricing Benchmark Licensing Agreement

Intended FTSE license date on or about August 24, 2026 Sponsor intends to enter into a licensing agreement

Trading symbol TOXR Cboe BZX Exchange listing

Key Terms

Pricing Benchmark Licensing Agreement, Pricing Benchmark, net asset value, non-exclusive, non-transferable, non-sub-licensable, perpetual, worldwide license

4 terms

Pricing Benchmark Licensing Agreement regulatory

"termination of the Pricing Benchmark Licensing Agreement between the Sponsor and CF Benchmarks"

Pricing Benchmark financial

"the CME CF XRP—Dollar Reference Rate — New York Variant (the “Pricing Benchmark”)"

net asset value financial

"used to value the Trust’s shares on a daily basis and to calculate the Trust’s net asset value"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

non-exclusive, non-transferable, non-sub-licensable, perpetual, worldwide license regulatory

"CF Benchmarks provides each of the Sponsor, the Trust, and their affiliates a non-exclusive, non-transferable, non-sub-licensable, perpetual, worldwide license"

Offering Details

base_shelf_indeterminate

Offering

Offering Type base_shelf_indeterminate

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did 21Shares XRP ETF (TOXR) disclose in the July 7, 2026 supplement?

The supplement discloses termination of the Pricing Benchmark Licensing Agreement with CF Benchmarks, effective August 31, 2026. It also states the Sponsor intends to license FTSE index data on or about August 24, 2026.

Which benchmark has been used to value TOXR shares and calculate NAV?

The Trust used the CME CF XRP—Dollar Reference Rate — New York Variant as the Pricing Benchmark to value shares and calculate net asset value on a daily basis, per the supplement.

When will the CF Benchmarks licensing agreement terminate for the Trust?

The Sponsor provided notice terminating the Pricing Benchmark Licensing Agreement, with termination effective August 31, 2026, as disclosed in the Form 8-K attached to the supplement.

Who will the Sponsor license benchmark data from next for TOXR?

The Sponsor intends to enter into a licensing agreement with FTSE International Limited on or about August 24, 2026 to license FTSE index data under a one-year, automatically renewing license.

Are CF Benchmarks or FTSE affiliated with the Sponsor?

The supplement states both CF Benchmarks and FTSE are unaffiliated with the Sponsor; the filing does not disclose additional commercial or ownership relationships.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/07/2026 - 05:24 PM Learn about SEC filing dates

Filed pursuant to Rule 424(b)(3)

Registration No. 333-282942

21SHARES XRP ETF

SUPPLEMENT NO. 4 DATED JULY 7, 2026

TO THE PROSPECTUS DATED DECEMBER 10, 2025

This prospectus supplement (this “Supplement”) is part of and should be read in conjunction with the prospectus of 21Shares XRP ETF (the “Trust”), dated December 10, 2025 (the “Prospectus”). Unless otherwise defined herein, capitalized terms used in this Supplement shall have the same meanings as in the Prospectus.

The purpose of this Supplement is to include the Trust’s Current Report on Form 8-K filed on July 7, 2026.

Current Report on Form 8-K

On July 7, 2026, the Trust filed its Current Report on Form 8-K (the “Report”) with the Securities and Exchange Commission. The Report (without exhibits) is attached to this Supplement.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 30, 2026

21SHARES XRP ETF

(Exact name of registrant as specified in its charter)

Delaware		001-42966		33-6479139
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

158 W. 27th Street
New York, New York		10001
(Address of principal executive offices)		(zip code)

Registrant’s telephone number, including area code: (646) 370-6016

(Former Name or Former Address, if Changed Since Last Report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Shares of Beneficial Interest of 21Shares XRP ETF		TOXR		Cboe BZX Exchange, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.02 Termination of a Material Definitive Agreement.

Benchmark Licensing Agreements

On June 30, 2026, 21Shares US LLC (the “Sponsor”) provided notice to CF Benchmarks Ltd. (“CF Benchmarks”) of the termination, effective August 31, 2026, of the licensing agreement (the “Pricing Benchmark Licensing Agreement”) between the Sponsor and CF Benchmarks relating to the use of the CME CF XRP—Dollar Reference Rate — New York Variant (the “Pricing Benchmark”) by the Sponsor, 21Shares XRP ETF (the “Trust”), and their affiliates. Pursuant to the Pricing Benchmark Licensing Agreement, CF Benchmarks provides each of the Sponsor, the Trust, and their affiliates a non-exclusive, non-transferable, non-sub-licensable, perpetual, worldwide license to access, view and use the Pricing Benchmark to develop, create, calculate, settle, maintain or support and market the Trust, with the Trust using the Pricing Benchmark pursuant to a sub-licensing arrangement with the Sponsor. The Pricing Benchmark Licensing Agreement has a one-year initial term and automatically renews for successive one-year periods unless terminated pursuant to its terms. The Pricing Benchmark is calculated and administered by CF Benchmarks and is used to value the Trust’s shares on a daily basis and to calculate the Trust’s net asset value. CF Benchmarks is unaffiliated with the Sponsor. The Sponsor has elected to terminate the Pricing Benchmark Licensing Agreement pursuant to its terms in connection with its broader transition to a new benchmark provider, as further described below.

The Sponsor intends to enter into a licensing agreement with FTSE International Limited (“FTSE”) on or about August 24, 2026 whereby FTSE will provide each of the Sponsor, the Trust, and their affiliates a non-exclusive, non-transferable, non-sub-licensable, perpetual, worldwide license to access, view and use FTSE index data to develop, create, calculate, settle, maintain or support and market the Trust. Such license is expected to have a one-year initial term and will automatically be renewed for successive one-year periods, unless terminated pursuant to its terms.

FTSE is a company incorporated and registered in England, and its principal offices are located at 10 Paternoster Square, London, EC4M 7LS, United Kingdom. FTSE is experienced in calculating and administering digital asset indices. FTSE is unaffiliated with the Sponsor.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: July 7, 2026	21SHARES XRP ETF
	21Shares US LLC, as Sponsor of 21Shares XRP ETF
	By:	/s/ Duncan Moir
	Name:	Duncan Moir
	Title:	President

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