Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 13

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 13
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 the U.S. Internal Revenue Service (“IRS”), and state regulators, including the New York Department of Financial Services (“NYDFS”), have made official pronouncements or issued guidance or rules regarding the treatment of SOL and other digital assets. However, other U.S. and state agencies, such as the SEC, have not made official pronouncements or issued guidance or rules regarding the treatment of SOL. Similarly, the treatment of SOL and other digital assets is often uncertain or contradictory in other countries. The regulatory uncertainty surrounding the treatment of SOL creates risks for the Trust and its Shares. See “Risk Factors—Risk Factors Related to the Regulation of Digital Assets, the Trust and the Shares.”

The Trust’s Service Providers

The Sponsor

Osprey Funds, LLC serves as the Sponsor for the Trust. The Sponsor is generally responsible for the day-to-day administration of the Trust under the provisions of the Trust Agreement. This includes (i) preparing and providing periodic reports and financial statements on behalf of the Trust for investors; (ii) selecting and monitoring the Trust’s service providers and from time to time engaging additional, successor or replacement service providers (including without limitation the Trust Administrator, SOL Custodian, Cash Custodian, Transfer Agent, the Index Administrator and Lukka); (iii) instructing the SOL Custodian to withdraw the Trust’s SOL as needed to pay the Management Fee; (iv) upon dissolution of the Trust, distributing the Trust’s cash proceeds from the sale of the remaining SOL to the owners of record of the Shares; and (v) when applicable, establishing the principal market for U.S. generally accepted accounting principles (“GAAP”) valuation. The Shares are not obligations of, and are not guaranteed by, Osprey Funds, LLC, or any of its subsidiaries or affiliates.

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The Trustee The Trustee is CSC Delaware Trust Company. The Trustee is appointed to serve as the trustee of the Trust in the State of Delaware for the sole purpose of satisfying the requirement of Section 3807(a) of the Delaware Statutory Trust Act (the “DSTA”) that the Trust have at least one trustee with a principal place of business in the State of Delaware. The duties of the Trustee will be limited to: (i) accepting legal process served on the Trust in the State of Delaware; and (ii) the execution of any certificates required to be filed with the Delaware Secretary of State which the Trustee is required to execute under the DSTA. To the extent that, at law or in equity, the Trust