Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 153

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 153
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 the Trust’s cash proceeds from the sale of the remaining SOL to the owners of record of the Shares and (v) when applicable, establishing the principal market for GAAP valuation. The Shares are not obligations of, and are not guaranteed by, Osprey Funds, LLC, or any of its subsidiaries or affiliates.

The Sponsor ’ s Role

The Sponsor arranged for the creation of the Trust and the registration of the Shares for their public offering in the United States and the listing of the Shares on the Listing Exchange. As partial consideration for its receipt of the [●]% Management Fee from the Trust, the Sponsor is obligated to pay the Assumed Expenses.

The Sponsor is generally responsible for the day-to-day administration of the Trust under the provisions of the Trust Agreement. (i) preparing and providing periodic reports and financial statements on behalf of the Trust for investors, (ii) selecting and monitoring the Trust’s service providers and from time to time engaging additional, successor or replacement service providers (including without limitation the Trust Administrator, SOL Custodian, Cash Custodian, Transfer Agent, Index Administrator and Lukka), (iii) instructing the SOL Custodian to withdraw the Trust’s SOL as needed to pay the Management Fee, (iv) upon dissolution of the Trust, distributing the Trust’s cash proceeds from the sale of the remaining SOL to the owners of record of the Shares and (v) when applicable, establishing the principal market for GAAP valuation. In addition, if there is a fork in the Solana Network after which there is a dispute as to which network resulting from the fork is the Solana Network, the Sponsor has the authority to select the network that it believes in good faith is the Solana Network, unless such selection or authority would otherwise conflict with the Trust Agreement.

The Sponsor does not store, hold, or maintain custody or control of the Trust’s SOL but instead has entered into the Custodian Agreement with the SOL Custodian to facilitate the security of the Trust’s SOL.

The Sponsor may transfer all or substantially all of its assets to an entity that carries on the business of the Sponsor if at the time of the transfer the successor assumes all of the obligations of the Sponsor under the Trust Agreement. In such an event, the Sponsor will be relieved of all further liability under the Trust Agreement.

The Management Fee is paid by the Trust to the Sponsor as compensation for services performed under the Trust Agreement and as partial consideration for the Sponsor’s agreement to pay fees and expenses incurred by the Trust in the ordinary course of its affairs, excluding taxes,