Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 17

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 17
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ana Network could damage that network.                                                                           |
| ● | Moreover,                                                                                                                               
 in the past, flaws in the source code for digital asset networks and related protocols have been exposed and exploited, including       
 flaws that disabled some functionality for users, exposed users’ personal information and/or resulted in the theft of users’            
 digital assets. The cryptography underlying the Solana Network could prove to be flawed or ineffective, or developments in mathematics  
 and/or technology, including advances in digital computing, algebraic geometry and quantum computing, could result in such cryptography 
 becoming ineffective. In any of these circumstances, a malicious actor may be able to take the Trust’s SOL, which would adversely       
 affect the value of the Shares. Moreover, functionality of the Solana Network may be negatively affected by such an exploit such        
 that it is no longer attractive to users, thereby dampening demand for SOL. Even if another digital asset other than SOL were affected  
 by similar circumstances, any reduction in confidence in the source code or cryptography underlying digital asset networks and related  
 protocols generally could negatively affect the demand for digital assets and therefore adversely affect the value of the Shares.       |

Moreover, because digital assets, including SOL, have existed for a short period of time and are continuing to be developed, there may be additional risks to digital asset networks and related protocols that are impossible to predict as of the date of this prospectus.

Digital assets represent a new and rapidly evolving industry, and the value of the Shares depends on the acceptance of SOL.

The first digital asset, Bitcoin, was launched in 2009. SOL launched in 2017. In general, digital asset networks, including the Solana Network and related protocols represent a new and rapidly evolving industry that is subject to a variety of factors that are difficult to evaluate. For example, the realization of one or more of the following risks could materially adversely affect the value of the Shares:

| ● | SOL                                                                                                                                        
 is only selectively accepted as a means of payment by retail and commercial outlets, and use of SOL by consumers remains limited.          
 Banks and other established financial institutions, whether voluntarily or in response to regulatory feedback, may refuse to process       
 funds for SOL transactions; process wire transfers to or from digital asset trading platforms, SOL-related companies or service providers; 
 or maintain accounts for persons or entities transacting in SOL. As a result, the prices of SOL are largely determined by speculators      
 and validators, thus contributing to price volatility that makes retailers less likely to accept SOL in the future. While the use          
 of