Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 141

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 141
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 backed-up and saved to both an alternative location (besides the primary location) and to a “Disaster Recovery”     
 Amazon Web Services (“AWS”) Account to enable recoverability in an event one of the regions becomes unavailable. Authentication 
 requirements for the SOL Custodian’s platform are restricted through two-factor authentication and encrypted network protocols, 
 among other protection mechanisms.                                                                                              |

See “Risk Factors—Risk Factors Related to Staking.”

Book-Entry Form

Shares are held in book-entry form by the Transfer Agent. Transfers will be made in accordance with standard securities industry practice. The Sponsor or its delegate shall (i) direct the Transfer Agent to credit or debit the number of creation Baskets or redemption Baskets to the account of the applicable purchaser; and (ii) issue or cancel creation Baskets or redemption Baskets, as applicable, at the direction of the Sponsor or its delegate. The Transfer Agent shall issue or cancel each purchaser’s Shares, as applicable.

Share Splits

In its discretion, the Sponsor may direct the Transfer Agent to declare a split or reverse split in the number of Shares outstanding and to make a corresponding change in the number of Shares constituting a Basket. For example, if the Sponsor believes that the per Share price in the secondary market for Shares has risen or fallen outside a desirable trading price range, it may declare such a split or reverse split.

Description of the Trust Agreement

The Trust is a Delaware Statutory Trust that was formed on June 8, 2021 by the filing of the Certificate of Trust with the Delaware Secretary of State in accordance with the provisions of the DSTA. The Trust operates pursuant to the Trust Agreement.

The Shares represent units of fractional undivided beneficial interest in and ownership of the Trust. The Trust is passive and is not managed like a corporation or an active investment vehicle. The Trust’s SOL are held by the SOL Custodian on behalf of the Trust. The Trust’s SOL will be transferred out of the Vault Balance only in the following circumstances: (i) transferred to pay the Sponsor’s Fee or any Extraordinary Expenses, (ii) sold on an as-needed basis to pay Extraordinary Expenses or redeem Baskets or (iii) sold on behalf of the Trust in the event the Trust terminates and liquidates its assets or as otherwise required by law or regulation. Assuming that the Trust is treated as a grantor trust for U.S. federal income tax purposes, each delivery or sale of SOL by the Trust to pay the Sponsor’s Fee or any Extraordinary Expenses will