Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 128

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 128
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 sole discretion, whether to utilize one of the Liquidity Providers that provided a quote or to trade through the Prime Execution Agent to execute a SOL trade. Once an offer is accepted and it becomes a trade that is binding on both the Trust and the Liquidity Provider. Each Liquidity Provider is required to comply with U.S. federal and/or state laws including licensing and registration requirements or similar laws in non-U.S. jurisdictions and maintain practices and policies designed to comply with AML and KYC regulations or similar laws in non-U.S. jurisdictions.

The Authorized Participants may deliver SOL or cash to create Shares and receive SOL or cash when redeeming Shares.

The Prime Execution Agent facilitates the purchase and sale or settlement of the Trust’s SOL transactions. Liquidity Providers settle trades with the Trust using their own accounts at the Prime Execution Agent when trading with the Trust.

Issuance of Baskets – Transaction Fees

To compensate for expenses incurred in connection with the creation and redemption of Baskets, an Authorized Participant is required to pay a standard transaction fee in cash to create or redeem Baskets, which is not expected to vary in accordance with the number of Baskets in such order. The total transaction fee will also include applicable taxes, brokerage and any other commissions, transaction fees (including financing), trade slippage and market impact costs, as applicable, and may be reduced, increased or otherwise changed by the Sponsor and the Trust based on changes to the costs or inputs associated with the total transaction fee. The Sponsor will notify Authorized Participants of any change in the transaction fee and will not implement any change in the fee until after the date of notice.

Issuance of Baskets - In-Kind Creations

In connection with an in-kind creation, an Authorized Participant will be required to submit the creation order by an order cutoff time (the “In-Kind Order Cutoff Time”). The In-Kind Order Cutoff Time is 3:59 p.m. ET on the trade date. The Authorized Participant must submit an in-kind purchase order to [●] indicating the number of Baskets it intends to acquire.

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The date [●] receives the in-kind purchase order will determine the basket SOL amount (the “Basket SOL Amount”) the Authorized Participant or its designated agent or client needs to deposit. However, orders received by [●] after the In-Kind Order Cutoff Time will not be accepted and should be resubmitted on the following Business Day. Fractions of a SOL smaller than one-hundred-millionth of one SOL