Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 113

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 113
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 Relevant Transactions are added to a joint list, recording the time of execution, trade price and size for each transaction. |

| ● | The                                                                                                           
 list is partitioned by timestamp into twelve (12) equally sized time intervals of five (5) minutes in length. |

| ● | For                                                                                                                                           
 each partition separately, the volume-weighted median trade price is calculated from the trade prices and sizes of all Relevant Transactions, 
 i.e., across all Constituent Platforms. A volume-weighted median differs from a standard median in that a weighting factor, in this           
 case trade size, is factored into the calculation.                                                                                            |

| ● | The                                                                                               
 Index is then determined by the equally weighted average of the volume medians of all partitions. |

As of June 1, 2025, the Constituent Platforms included in the Index were Coinbase, Gemini, Kraken and LMAX Digital.

| ● | Coinbase:                                                                                                                            
 A U.S.-based exchange registered as a MSB with FinCEN and licensed as a virtual currency business under the NYDFS BitLicense as well 
 as a money transmitter in various U.S. states. Subsidiaries operating internationally are further regulated as e-money providers     
 (Republic of Ireland, Central Bank of Ireland) and Major Payment Institutions (Singapore, Monetary Authority of Singapore).          |

| ● | Gemini:                                                                                                                                
 A U.S.-based exchange that is licensed as a virtual currency business under the NYDFS BitLicense. It is also registered with FinCEN    
 as a MSB and is licensed as a money transmitter in various U.S. states. It is also registered with the FCA as a Crypto Asset Business. |

| ● | Kraken:                                                                                                                             
 A U.S.-based exchange that is registered as a MSB with FinCEN in various U.S. states, Kraken is registered with the FCA as a Crypto 
 Asset Business and is authorized by the Central Bank of Ireland as a virtual asset service provider. Kraken also holds a variety    
 of other licenses and regulatory approvals, including from the Canadian Securities Administrators.                                  |

| ● | LMAX                                                                                                                                        
 Digital: A Gibraltar-based exchange regulated by the Gibraltar Financial Services Commission as a DLT provider for execution and            
 custody services. LMAX Digital does not hold a BitLicense and is part of LMAX Group, a U.K.-based operator of an FCA-regulated Multilateral 
 Trading Facility and Broker-Dealer.                                                                                                         |

An oversight function is implemented by the Benchmark