Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 162

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 162
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odian and does not guarantee or insure the Trust in any way. There is no third-party insurance held on behalf of the Custodial Account.

The Trust does not enjoy audit or inspection rights under the Custodian Agreement. The SOL Custodian’s internal audit team performs periodic internal audits over custody operations, and the SOL Custodian has represented that SOC attestations covering private key management controls are also performed on the SOL Custodian by an external provider. Custody fees are paid in accordance with a fee schedule to the Custodian Agreement. Historically, such fees were paid by the Trust; however, upon commencement of the offering, the custody fees shall be paid by the Sponsor. The Custodian Agreement may be modified only by written agreement signed by both the Trust and the SOL Custodian. The Custodian Agreement is governed by the laws of the State of New York.

Cash Custodian

U.S. Bank National Association serves as the Cash Custodian pursuant to the Cash Custody Agreement. The Cash Custodian is the custodian for the Trust’s cash holdings. The Trust may retain additional cash custodians from time to time pursuant to a cash custodian agreement to perform certain services that are typical of a cash custodian. The Sponsor may, in its sole discretion, add or terminate cash custodians at any time.

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Description of the Cash Custody Agreement

Pursuant to the Cash Custody Agreement between the Trust and the Cash Custodian, the Cash Custodian serves as custodian of all securities and cash at any time delivered to the Cash Custodian by the Trust during the term of the Cash Custody Agreement and has authorized the Cash Custodian to hold its securities in its name or the names of its nominees. Pursuant to the terms of the Cash Custody Agreement, the Custodian may deposit and/or maintain the investment assets of a Fund in a securities depository and may appoint a sub-custodian to hold investment assets of the Fund. The Cash Custodian establishes and maintains one or more securities accounts and cash accounts for a Fund pursuant to the Custody Agreement. The Cash Custodian maintains separate and distinct books and records segregating the assets of the Fund.

The Cash Custody Agreement has an initial term of three years and, after the initial term, will continue in effect for additional one-year terms unless earlier terminated. Notwithstanding the foregoing, beginning in the second year of the Cash Custody Agreement, the Trust may terminate the Cash Custody Agreement on at least ninety days’ prior written notice to the Cash Custodian