Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 190

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 190
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 —CF Benchmarks Ltd.

“ Investment Advisers Act”—Investment Advisers Act of 1940, as amended.

“ Investment Company Act”—Investment Company Act of 1940, as amended.

“ In-Kind Order Cutoff Time”— The In-Kind Order Cutoff Time is 3:59 p.m. ET on the trade date.

“ IRA” —Individual retirement account.

“ IRS”—The U.S. Internal Revenue Service.

“ IR Virtual Currency”—Any virtual currency tokens, or other asset or right, acquired by the Trust through the exercise (subject to the applicable provisions of the Trust Agreement) of any Incidental Right.

“ JOBS Act” —The Jumpstart Our Business Startups Act.

“ KYC” —Know your customer.

“ Listing Exchange” —Cboe BZX Exchange, Inc.

“ Liquidity Provider”—One or more eligible companies that facilitate the purchase and sale of SOL in connection with creations or redemptions pursuant to Cash Orders. The Liquidity Providers with which the Sponsor will engage in SOL transactions are third parties that are not affiliated with the Sponsor or the Trust and are not acting as agents of the Trust, the Sponsor, or any Authorized Participant, and all transactions will be done on an arms-length basis. Except for the contractual relationships between each Liquidity Provider and the Sponsor, there is no contractual relationship between each Liquidity Provider and the Trust, the Sponsor, or any Authorized Participant.

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“ Management Fee” —The fees of the Sponsor will be accrued daily and paid monthly in arrears in U.S. dollars only, and will be calculated by the Trust Administrator. The Trust Administrator will calculate the Management Fee on a daily basis by applying the [●]% annualized rate to the Trust’s NAV, as determined by reference to the Index.

“ Marketing Agent”— Foreside Fund Services, LLC.

“ Marketing Agent Agreement”—An agreement entered into by the Sponsor, on behalf of the Trust, dated [●], with Foreside Fund Services, LLC.

“ NAV”—Net asset value of the Trust.

“ NAV per Share” —The NAV divided by the number of outstanding Shares.

“ Notice” —The 2014 notice released by the IRS.

“ NYDFS” —The New York State Department of Financial Services.

“ OCC” —The Office of the Comptroller of the Currency.

“ OFAC” —The Office of Foreign Assets Control.

“ Order Book” —A list of buy and sell orders with associated limit prices and sizes