Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 133

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 133
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 Trust or its Shareholders).

Because the Sponsor has assumed what are expected to be most of the Trust’s expenses, and the Management Fee accrues daily at the same rate, in the absence of any extraordinary expenses or liabilities, the amount of SOL by which the Basket SOL Amount will decrease each day will be predictable. In connection with a cash purchase order, the Trust intends to have the Trust Administrator make available on each Business Day an indicative Basket Amount for the next Business Day. Authorized Participants may use that indicative Basket Amount as guidance regarding the amount of cash that they may expect to have to deposit with the Trust Administrator in respect of cash purchase orders placed by them on such next Business Day and accepted by the Trust. The agreement entered into with each Authorized Participant provides, however, that once a purchase order has been accepted by the Trust, the Authorized Participant will be required to deposit with the Trust Administrator the Basket Amount in connection with a cash purchase order, as determined by the Trust on the effective date of the purchase order.

No Shares will be issued unless and until the Prime Execution Agent has informed the Trust that it has allocated to the Trust’s account the corresponding amount of SOL. Disruption of services at the Prime Execution Agent or SOL Custodian would have the potential to delay settlement of the SOL related to Share creations.

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SOL transactions that occur on the blockchain are susceptible to delays due to Solana network outage, congestion, or other problems or disruptions. To the extent that SOL transfers from the Trust’s Trading Balance to the Trust’s Vault Balance are delayed due to congestion or other issues with the Solana network, such SOL will not be held in cold storage in the Vault Balance until such transfers can occur.

Redemption of Baskets – In-Kind Redemptions

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

On the order date 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