PURPOSE XRP ETF(OTC:PRXRF)

The fund aims to provide a secure, convenient, and cost-effective way to invest in XRP coins (XRP), avoiding the complexities of direct investment. Long-term holdings of XRP are purchased through digital asset trading platforms and OTC counterparties, after conducting due diligence. Orders are determined based on price and liquidity with the aim of achieving the best execution for the fund. Holdings are valued based on the Compass 3:45pm 4:00pm NY XRP Index, serving as a benchmark rate for XRP, denominated in US dollars. The fund is considered an alternative mutual fund based on the Canadian National Instrument 81-102. It does not engage in short-term speculation or non-hedging derivatives. It may, however, hold money market instruments to meet its objectives. The fund hedges US currency exposure for CAD ETF Currency Hedged Units using derivatives such as currency forward contracts. Moreover, it allows limited short-term borrowing for XRP purchases applicable under NI 81-102 rules.