Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 219

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 219
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 2024, was $ 42,142, which includes $ 51,285net realized gain on investment in SOL, and $ 93,427net realized loss resulted from the changes in liabilities denominated in SOL. Net change in unrealized appreciation on investment in SOL for the year ended December 31, 2024, was $ 17,519,388, which includes netchange in unrealized appreciation on investment in SOL of $ 17,466,871, and $ 52,517net unrealized appreciation due to changes in value of liabilities denominated in SOL.

| 4. | Income 
 Taxes  |

The Trust is a grantor trust for U.S. federal income tax purposes. Accordingly, the Trust will not be subject to U.S. federal income tax. Rather, each beneficial owner of Shares will be treated as directly owning its pro rata share of the Trust’s assets and a pro rata portion of the Trust’s income, gain, losses, and deductions will “flow through” to each beneficial owner of Shares.

In accordance with GAAP, the Trust has defined the threshold for recognizing the benefits of tax return positions in the financial statements as “more-likely-than-not” to be sustained by the applicable taxing authority and requires measurement of a tax position meeting the “more-likely-than-not” threshold, based on the largest benefit that is more than 50% likely to be realized. As of June 30, 2025 and December 31, 2024, the Trust did not have a liability for any unrecognized tax amounts for uncertain tax positions related to federal, state, and local income taxes.

| F-23 |

Osprey Solana Trust

Notes to the Financial Statements (unaudited)

As of June 30, 2025

However, the conclusions concerning the determination of “more-likely-than-not” tax positions may be subject to review and adjustment at a later date based on factors including, but not limited to, further implementation guidance, and on-going analyses of and changes to tax laws, regulations, and interpretations thereof.

The Sponsor of the Trust has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions related to federal, state, and local income taxes existed as of June 30, 2025 or December 31, 2024. The tax years 2024, 2023, and 2022 are subject to examination by taxing authorities.

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