Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 134

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 134
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 Prime Execution Agent. For settlement of a redemption, the Authorized Participant delivers the necessary Shares to the Trust, the Trust instructs the Prime Execution Agent to deliver SOL to the account of the Authorized Participant or its designated agent or client’s account at the Prime Execution Agent.

Transfers of SOL from the Trust’s Vault Balance to the Trust’s Trading Balance are “on-chain” transactions represented on the Solana blockchain.

SOL transactions that occur on the blockchain are susceptible to delays due to Solana network outages, congestion, or other problems or disruptions. To the extent that SOL transfers from the Trust’s Vault Balance to the Trust’s Trading Balance are delayed due to congestion or other issues with the Solana network or the Trust’s operations, redemptions in the Trust could be delayed.

Disruption of services at the Prime Execution Agent or SOL Custodian would have the potential to delay settlement of the SOL related to Share redemptions.

Redemption of Baskets – Cash Redemptions

In connection with a cash redemption, an Authorized Participant will be required to submit a cash redemption order by the Cash Order Cutoff Time. An Authorized Participant must submit a redemption order to [●] indicating the number of Baskets it intends to redeem. The date [●] receives that order determines the Basket Amount in connection with a cash redemption to be received in exchange. However, orders received by [●] after the Cash Order Cutoff Time on a Business Day will not be accepted and should be resubmitted on the following Business Day.

On the date of the Cash Order Cutoff Time, the Trust may choose, in its sole discretion, to enter into a transaction with a Liquidity Provider or the Prime Execution Agent, to sell SOL in exchange for cash. Also, on the date of the Cash Order Cutoff, the Trust instructs the SOL Custodian to prepare to move the associated SOL from the Trust’s Vault Balance with the SOL Custodian to the Trust’s Trading Balance with the Prime Execution Agent. For settlement of a redemption, the Authorized Participant delivers the necessary Shares to the Trust, a Liquidity Provider or the Prime Execution Agent, as applicable, delivers the cash to the Trust associated with the Trust’s sale of SOL, the Trust delivers SOL to the Liquidity Provider’s account at the Prime Execution Agent or directly to the Prime Execution Agent, as applicable, and the Trust delivers cash to the Authorized Participant. In the event the Trust has not been able to successfully execute and complete settlement of a SOL transaction by the settlement date, the Authorized Participant will