Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 192

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 192
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 Expense.

“ SOL Market Price” —The market price of SOL as determined in accordance with ASC 820-10 on each Business Day.

“ Solana Network”—The online, end-user-to-end-user network hosting a public transaction ledger, known as the Solana blockchain, and the source code comprising the basis for the cryptographic and algorithmic protocols governing the Solana network. See “Overview of the SOL Industry and Market.”

“ Sponsor”—The sponsor of the Trust is Osprey Funds, LLC.

“ Staking”—(i) Using, or permitting to be used, in any manner, directly or indirectly, through an agent or otherwise (including, for the avoidance of doubt, through a delegation of rights to any third party with respect to any portion of the Trust Estate, by making any portion of the Trust Estate available to any third party or by entering into any similar arrangement with a third party), any portion of the Trust Estate in a proof-of-stake validation protocol, (ii) accepting any Staking Consideration and (iii) holding any Other Staking Consideration accepted by the Trust pursuant to clause (ii), for not more than 30 days after the Trust’s receipt thereof, pending the use of such Other Staking Consideration for payment of Extraordinary Expenses. For the avoidance of doubt, (i) the mere act of transferring units of virtual currency on a peer-to-peer virtual currency network that utilizes a proof-of-stake validation protocol shall not be considered to be “Staking”.

“ Staking Guidance” —a revenue ruling that provided guidance on digital asset staking, including guidance to the effect that staking rewards will, under certain circumstances, be treated as giving rise to taxable income.

“ Staking Provider” —one or more third-party Solana Network validators.

“ Staking Rewards” —network inflation and transaction fees, minus any fees paid to the Staking Provider, in the form of SOL.

“ Trade Credit” —The Trust may borrow SOL or cash as a credit on a short-term basis from the Trade Credit Lender pursuant to the Trade Financing Agreement.

“ Trade Credit Lender” —Coinbase Credit, Inc.

“ Trade Financing Agreement” —The Credit Committed Trade Financing Agreement, dated as of [ ], by and between the Trust and the Trade Credit Lender.

“ Trading Balance” —A trading account at which, pursuant to the Prime Execution Agent Agreement, the Trust’s SOL holdings and cash holdings from time to time may be held with the Prime Execution Agent, in connection with the sale of