Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 21

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 21
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ik Buterin had died. Following the rumor, the price of Ether decreased approximately 20% before recovering after Buterin himself dispelled the rumor. Some have speculated that the rumor led to the decrease in the price of Ether.

| 18 |

In the event a high-profile contributor to the Solana Network, such as Anatoly Yakovenko, is perceived as no longer contributing to the Solana Network due to death, retirement, withdrawal, incapacity, or otherwise, whether or not such perception is valid, it could negatively affect the price of SOL, which could adversely impact the value of the Shares.

Digital assets may have concentrated ownership and large sales or distributions by holders of such digital assets, or any ability to participate in or otherwise influence a digital asset’s underlying network, could have an adverse effect on the market price of such digital asset.

As of [●], the largest 100 SOL wallets held approximately [●] of the SOL in circulation. Moreover, it is possible that other persons or entities control multiple wallets that collectively hold a significant amount of SOL, even if they individually only hold a small amount, and it is possible that some of these wallets are controlled by the same person or entity. As a result of this concentration of ownership, large sales or distributions by such holders could have an adverse effect on the market price of SOL.

If the transaction fees for recording transactions on the Solana Network are not sufficiently high to incentivize validators, or if certain jurisdictions continue to limit or otherwise regulate validating activities, validators may cease expanding validating power or demand high transaction fees, which could negatively impact the value of SOL and the value of the Shares.

If the digital asset awards for validating blocks or the transaction fees for recording transactions on the Solana Network are not sufficiently high to incentivize validators, or if certain jurisdictions continue to limit or otherwise regulate validating activities, validators may cease expending validating power to validate blocks and confirmations of transactions on the SOL Blockchain could be slowed. For example, the realization of one or more of the following risks could materially adversely affect the value of the Shares:

| ● | Over                                                                                                                                     
 the past several years, digital asset validating operations have evolved from individual users validating with computer processors,      
 graphics processing units and first-generation application specific integrated circuit machines to “professionalized”                    
 validating operations using proprietary hardware or sophisticated machines. If the profit margins of digital asset validating operations 
 are not sufficiently high, digital asset validators are more likely to immediately sell digital assets earned by validating, resulting   
 in an increase in liquid supply of that