Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 122

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 122
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 the Sponsor will bear the Assumed Expenses; provided, however, that the Trust shall remain responsible for any Extraordinary Expenses.

As discussed in greater detail herein, if the Trust holds any IR Virtual Currency, the Trust may pay the Management Fee, in whole or in part, with such IR Virtual Currency by entering into an agreement with the Sponsor and transferring such IR Virtual Currency to the Sponsor at a value to be determined in accordance with the terms of such agreement, but only if such agreement and transfer do not conflict with the terms of the Trust Agreement.

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If the Trust incurs any Extraordinary Expenses, the Sponsor or its delegate (i) would instruct the SOL Custodian to withdraw from the SOL Account, on a monthly basis as needed, SOL, IR Virtual Currency in such quantity as necessary to permit payment of such Extraordinary Expenses, and (ii) cause the Trust (or its delegate) to convert such SOL or IR Virtual Currency into U.S. dollars or other fiat currencies at the exchange rate at the time of conversion.

Intraday Indicative Value

In order to provide updated information relating to the Trust for use by Shareholders, the Trust intends to publish an intraday indicative value (“IIV”) using the [CME Solana Real Time Price (“SRTI”)]. One or more major market data vendors will provide an IIV updated every 15 seconds, as calculated by the Exchange or a third-party financial data provider during the Exchange’s Regular Market Session. The IIV will be calculated by using the prior day’s closing NAV as a base and updating that value during the Regular Market Session to reflect changes in the value of the Trust’s NAV during the trading day.

The IIV’s dissemination during the Regular Market Session should not be viewed as an actual real time update of the NAV, which will be calculated only once at the end of each trading day. The IIV will be widely disseminated every 15 seconds during the Regular Market Session by one or more major market data vendors. In addition, the IIV will be available through online information services.

All aspects of the SRTI methodology are publicly available at the website of the provider CF Benchmarks (www.cfbencharks.com). The SRTI is calculated once per second, in real time by utilizing the Order Books of SOL – U.S. dollar trading pairs operated by all Constituent Platforms. An “Order Bookˮ is a list of buy and sell orders with associated limit prices and sizes that have not yet been matched, that is