Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 187

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 187
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 Indirect Participant; and (iii) has in effect a valid Authorized Participant Agreement.

“ Authorized Participant Agreement”—An agreement entered into by an Authorized Participant, the Sponsor and the Trustee that provides the procedures for the creation and redemption of Baskets.

“ Basket”—A block of 10,000 Shares.

“ Basket Amount”—On any trade date, the amount of cash required as of such trade date for the creation or redemption of a Basket, the Authorized Participant needs to deposit and the Basket SOL Amount the Trust needs to purchase from the Liquidity Provider or through the Prime Execution Agent.

“ Basket SOL Amount”—On any trade date, the amount of SOL required as of such trade date for the creation or redemption of a Basket, as determined by dividing (x) the amount of SOL owned by the Trust at 4:00 p.m., New York time, on such trade date, after deducting the amount of SOL representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust (converted using the Index Price at such time, and carried to the eighth decimal place), by (y) the number of Shares outstanding at such time (with the quotient so obtained calculated to one one-hundred-millionth of one SOL (i.e., carried to the eighth decimal place)), and multiplying such quotient by 10,000.

“ Bitcoin”—A type of digital asset based on an open-source cryptographic protocol existing on the Bitcoin network.

“ BitLicense” —A business license under 23 New York Codes, Rules and Regulations Part 200.

“ Blockchain” or “ Solana Blockchain”—The public transaction ledger of the Solana Network on which transactions in SOL are recorded.

“ BSA” —U.S. Bank Secrecy Act, as amended.

“ Business Day” —Any day other than: (1) a Saturday or a Sunday; or (2) a day on which the Listing Exchange is closed for regular trading.

“ Cash Custodian” —U.S. Bank National Association and any substitute or additional custodian of the Trust’s cash pursuant to a written agreement with the Trust or Trustee on behalf of the Trust.

“ Cash Order Cutoff Time”— The Cash Order Cutoff Time is 6:00 p.m. ET on the Business Day prior to trade date.

“ CBDCs” —Digital forms of legal tender, called central bank digital currencies, introduced by central banks in various countries.

“ CBOE”—Cboe BZX Exchange, Inc.

“ CFPB” —The