Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 124

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 124
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 Participants or other service providers of the Trust in executing a transaction in SOL with the Trust. In connection with cash creations and redemptions, each Liquidity Provider represents to the Trust that it is acting for itself and not for another person and is not acting as agent or at the direction of any Authorized Participant. Upon receipt of an order from an Authorized Participant to create or redeem Baskets, the Trust may obtain quotes for a price to purchase or sell SOL from one or more a Liquidity Providers. A Liquidity Provider may respond to the Trust’s request with an offer of a quote at which it is willing to sell the specified quantity of SOL, or a portion thereof, in the case of a creation, or a quote at which it is willing to buy the specified quantity of SOL, or a portion thereof, in the case of a redemption, as indicated in such offer. The Liquidity Providers are not contractually obligated to participate in cash orders for creations or redemptions by placing any offers to buy or sell SOL with the Trust. The Trust then determines, in its sole discretion, whether to utilize one of the Liquidity Providers that provided a quote or to trade through the Prime Execution Agent to execute a SOL trade. Once an offer is accepted and it becomes a trade that is binding on both the Trust and the Liquidity Provider. Each Liquidity Provider is required to comply with U.S. federal and/or state laws including licensing and registration requirements or similar laws in non-U.S. jurisdictions and maintain practices and policies designed to comply with AML and KYC regulations or similar laws in non-U.S. jurisdictions.

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The Authorized Participants may deliver SOL or cash to create Shares and receive SOL or cash when redeeming Shares.

The Prime Execution Agent facilitates the purchase and sale or settlement of the Trust’s SOL transactions. Liquidity Providers settle trades with the Trust using their own accounts at the Prime Execution Agent when trading with the Trust.

Issuance of Baskets – Transaction Fees

To compensate for expenses incurred in connection with the creation and redemption of Baskets, an Authorized Participant is required to pay a standard transaction fee in cash to create or redeem Baskets, which is not expected to vary in accordance with the number of Baskets in such order. The total transaction fee will also include applicable taxes, brokerage and any other commissions, transaction fees (including financing), trade slippage and market impact costs, as applicable, and may be reduced, increased or otherwise changed by the Sponsor and the Trust based on changes to the costs or inputs