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

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 10
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 Sponsor on a date determined by the Sponsor at its discretion.

See “Description of the Shares and the Trust Agreement—Staking” for more information.

Security and Controls

The Trust’s SOL Custodian has multiple layers of security protocols designed to protect the Trust’s assets from unauthorized access or transfer, which will remain in place when the Trust’s SOL is staked.

The Trust’s SOL will be staked directly from the Trust’s wallets and will not be transferred to any other wallet to be staked. The Solana protocol (a) mandates that the executor of the staking transaction (i.e., the Sponsor on behalf of the Trust) can execute the withdraw function at any time through the Trust’s wallets administered by the SOL Custodian and (b) limits the activities of the Staking Provider to executing only those activities specified by the protocol, such as performing validation activities. Accordingly, the Staking Provider will not have any control over the Trust’s staked SOL. In particular, the Staking Provider will not be authorized to leverage or rehypothecate the Trust’s SOL tokens. The Staking Provider will also not be able to change the designated wallet addresses on the Solana Network to which staked SOL is to be withdrawn or to which Staking Consideration shall be sent.

In addition, the proposed staking arrangements will not alter the Trust’s current custody environment or security procedures. The Sponsor expects that the staking arrangements will serve as an addendum to the Custodial Services Agreement between the Trust and the SOL Custodian, and the controls currently in place between the Sponsor and the SOL Custodian will also govern the activities related to staking and un-staking SOL, as outlined in the staking arrangements.

See “Description of the Shares—Staking—Security and Controls” and “Risk Factors—Risk Factors Related to Staking” for more information.

Solana History

SOL is a digital asset that is created and transmitted through the operations of the peer-to-peer Solana Network, a decentralized network of computers that operates on cryptographic protocols. No single entity owns or operates the Solana Network, the infrastructure of which is collectively maintained by a decentralized user base. The Solana Network allows people to exchange tokens of value, called SOL, which are recorded on a public transaction ledger known as a blockchain. The Solana Network uses Proof of Stake (“PoS”) and Proof of History (“PoH”) Blockchain technology to ensure the secure transfer and authenticity of each SOL and hosts the public transaction ledger on which all SOL is recorded (