TOXR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-13

• The Trust issues Shares only in Creation Baskets of 10,000 or multiples thereof. Creation Baskets are issued and redeemed in exchange for cash. Individual Shares will not be redeemed by the Trust but are listed and traded on the Exchange under the ticker symbol “TOXR”. The Trust issues Shares in Cre…

• The Trust pays the unitary Sponsor Fee of 0.30% of the Trust’s NAV. Prior to December 11, 2025, the Sponsor Fee was 2.50%. The Sponsor Fee is paid by the Trust to the Sponsor as compensation for services performed under the Trust Agreement. The Sponsor Fee accrues daily and is payable in XRP weekly …

• Net decrease in net assets resulting from operations for the three months ended March 31, 2026 was $(52,307,128), resulting from a net change in unrealized depreciation on investment in XRP of $(40,434,409), a net realized loss of $(11,683,909) from XRP sold for redemptions, a net realized loss of $…

• Net increase in net assets resulting from operations for the three months ended March 31, 2025 was $32,164, resulting from a net change in unrealized appreciation on investment in XRP of $1,375,222, a net change in unrealized appreciation on Sponsor Fee payable of $84,129, and a net realized gain of…

• The Trust is not aware of any trends, demands, commitments, events, or uncertainties that are reasonably likely to result in material changes to its liquidity needs. The Trust’s only ordinary recurring expense is the fee paid to the Sponsor at an annual rate of 0.30% of the Trust’s total NAV. In exc…

Text removed vs the prior filing · source: 10-Q · 2026-01-26

• As of September 30, 2025, the Constituent Exchanges included in the Pricing Benchmark that is utilized by the Trust are Coinbase, Kraken, LMAX Digital, Bitstamp and Crypto.com. Coinbase operates as a remote-first company and has no physical headquarters, and is registered as a money services busines…

• The Trust issues Shares only in blocks of 10,000 Shares (a “Basket”) or multiples thereof. Baskets are issued and redeemed in exchange for cash. Individual Shares will not be redeemed by the Trust but are listed and traded on the Exchange under the ticker symbol “TOXR”. The Trust issues Shares in Ba…

• The Trust pays the unitary Sponsor fee of 2.5% of the Trust’s XRP holdings. The Sponsor fee is paid by the Trust to the Sponsor as compensation for services performed under the Trust Agreement. The Sponsor fee accrues daily and is payable in XRP weekly in arrears. The administrator for the Trust (th…

• The Trust incurred Sponsor fees for the nine-month period ended September 30, 2025 and for the three months ended September 30, 2025 of $4,753,883 and $1,829,200, respectively.

• As of September 30, 2025, the Trust had a net closing balance of 98,120,000 XRP with a value of $280,028,593, based on the Index price of $2.8539 on September 30, 2025 based on the price of XRP in the principal market.

Text added vs the prior filing · source: 10-Q · 2026-05-13

• You should carefully consider the risk factors discussed below as well as the risk factors discussed in Part I, Item 1A. “Risk Factors” in our Annual Report, which could materially affect our business, financial condition or future results. Other than as described herein, there have been no material…

• The Trust Agreement includes a provision restricting Shareholders’ right to bring a derivative action.

• Under Section 7.4 of the Trust Agreement, Shareholders’ statutory right under Delaware law to bring a derivative action (i.e., to initiate a lawsuit in the name of the Trust in order to assert a claim belonging to the Trust against a fiduciary of the Trust or against a third-party when the Trust’s m…

• In addition to the 10% ownership threshold described above, the Trust Agreement imposes the following further procedural conditions on any Shareholder seeking to bring a derivative action on behalf of the Trust: (1) prior to bringing any such action, two or more non-affiliated Shareholders collectiv…

• These provisions apply to any derivative actions brought in the name of the Trust other than derivative claims brought under the federal U.S. securities laws and the rules and regulations thereunder. The enforceability of Section 7.04’s derivative action threshold and procedural requirements under a…

Text removed vs the prior filing · source: 10-Q · 2026-01-26

• You should carefully consider the risk factors discussed in “Risk Factors” in our Registration Statement on Form S-1 (333-282942) declared effective on December 10, 2025, which could materially affect our business, financial condition or future results. There have been no material changes in our ris…