Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 111

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 111
---
 or events that are reasonably likely to result in material changes to its liquidity needs

Investment Objective

The investment objective of the Trust, which is a passive investment vehicle, is to provide exposure to the value of SOL held by the Trust, less the expenses of the Trust’s operations and other liabilities. There can be no assurance that the Trust will be able to achieve its investment objective. Upon effectiveness of this registration statement, the performance of SOL will be measured by reference to the Index. The Shares have been quoted on OTC Markets and on OTCQX under the symbol OSOL since June 15, 2022, and to date have not met their investment objective.

While an investment in the Shares is not a direct investment in SOL, the Shares are intended to constitute a cost-effective and convenient means of gaining investment exposure to SOL. The logistics of accepting, transferring and safekeeping of SOL are dealt with by the Sponsor and the SOL Custodian, and the related expenses are built into the price of the Shares. Therefore, Shareholders do not have additional tasks or costs over and above those generally associated with investing in any other privately placed security. However, an investment in the Shares may operate and perform differently over time, or at any specific point in time, than an investment directly in SOL due to such factors as Trust fees and expenses, the quantity of Shares available for trading, the relative liquidity of the Shares and differences in the markets trading SOL and Shares (e.g., hours of operation, marketplace rules, clearance and settlement and market participants).

The Index

The CME CF Solana – Dollar Reference Rate – New York Variant

The net assets of the Trust and its Shares are valued on a daily basis with reference to the CME CF Solana – Dollar Reference Rate – New York Variant, the Index, a standardized reference rate published by CF Benchmarks Ltd., the Benchmark Provider, that is designed to reflect the performance of Solana in U.S. dollars. The Index was created to facilitate financial products based on Solana. It serves as a once-a-day benchmark rate of the U.S. dollar price of Solana (USD/SOL), calculated as of 4:00 p.m. ET. The Index aggregates the trade flow of several major Solana trading venues, during an observation window between 3:00 p.m. and 4:00 p.m. ET into the U.S. dollar price of one Solana at 4:00 p.m. ET. The Index currently uses substantially the same methodology as the C