Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 2

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 2
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 and establish its net asset value (“NAV”) by reference to the CME CF Solana – Dollar Reference Rate – New York Variant (the “Index”), less the Trust’s expenses and other liabilities. Osprey Funds, LLC is the Sponsor of the Trust (the “Sponsor”). CSC Delaware Trust Company is the trustee of the Trust (the “Trustee”), U.S. Bancorp Fund Services, LLC (d/b/a/ U.S. Bank Global Fund Services) is the transfer agent of the Trust (in such capacity, the “Transfer Agent”) and the administrator of the Trust (in such capacity, the “Trust Administrator”) and Coinbase Custody Trust Company, LLC (the “SOL Custodian”) is the custodian for the Trust’s SOL holdings; and U.S. Bank National Association (the “Cash Custodian” and together with the SOL Custodian, the “Custodians”) is the custodian for the Trust’s cash holdings.

The Shares are currently quoted on the OTC Market, operated by OTC Markets Group Inc. under the ticker symbol “OSOL” and following the effectiveness of the registration statement of which this prospectus forms a part, the Trust intends to list the Shares on Cboe BZX Exchange, Inc. (“CBOE”) under the symbol “[OSOL].” The Trust intends to issue Shares on a continuous basis and is registering an indeterminate number of Shares with the SEC in accordance with Rule 456(d) and 457(u).

The Trust issues and redeems Shares only in blocks of 10,000 or integral multiples thereof, (each, a “Basket”) based on the quantity of SOL attributable to each Share (net of any accrued but unpaid remuneration due to the Sponsor (the “Management Fee”), expenses and liabilities). These transactions will take place in exchange for SOL or cash. Baskets will be offered continuously at the net asset value (“NAV”) per Share for 10,000 Shares. Only registered broker-dealers that become authorized participants by entering into a contract with the Sponsor and the Trustee (“Authorized Participants”) may purchase or redeem Baskets. Shares will be offered to the public from time to time at varying prices that will reflect the price of SOL and the trading price of the Shares on the Listing Exchange at the time of the offer.

The Authorized Participants may deliver SOL or cash to create Shares and receive SOL or cash when redeeming Shares. When purchasing a Basket in exchange for cash, the Trust will create Shares by receiving SOL from a