Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 6

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 6
---
 the Index, less the Trust’s expenses and other liabilities. The Trust does not seek to generate returns beyond reflecting the performance of SOL. There can be no assurance that the Trust will be able to achieve its investment objective. The Trust will not utilize leverage, derivatives or any similar arrangements in seeking to meet its investment objective.

The Shares are currently quoted on the OTC Market, operated by OTC Markets Group Inc. under the ticker symbol “OSOL” and following the effectiveness of the registration statement of which this prospectus forms a part, the Trust intends to list the Shares on Cboe BZX Exchange, Inc. (“CBOE”) under the symbol “[OSOL].” From and after the date of this prospectus, the Trust intends to issue Shares on an ongoing basis pursuant to this registration statement and to list the Shares on CBOE under the symbol “[OSOL].” The Shares will be distributed by Authorized Participants who will be able to take advantage of arbitrage opportunities to keep the value of the Shares closely linked to the Index Price (defined below), which is referred to as the “arbitrage mechanism”. In particular, upon listing on CBOE, the Sponsor expects there to be a net creation of Shares if the Shares trade at a premium to NAV per Share and a net redemption of Shares if the Shares trade at a discount to NAV per Share, representing the effective functioning of the arbitrage mechanism.

Thereafter, it is expected that the Shares will be sold by the Authorized Participants to the public at varying prices to be determined by reference to, among other considerations, the price of the SOL represented by each Share and the trading price of the Shares on CBOE at the time of each sale.

The Trust issues and redeems Shares only in one or more blocks of 10,000 Shares (a block of 10,000 Shares is called a “Basket”) to certain authorized participants (“Authorized Participants”) from time to time. The Authorized Participants may deliver SOL or cash to create Shares and receive SOL or cash when redeeming Shares.

When purchasing a Basket in exchange for cash, the Trust will create Shares by receiving SOL from a third-party that is not the Authorized Participant, and the Trust is responsible for selecting the third-party to deliver the SOL. Further, the third-party will not be acting as an agent of the Authorized Participant with respect to the delivery of the SOL to the Trust or acting at the direction of the Authorized Participant with respect to the delivery of the SOL to the Trust. When redeeming a Basket