Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 159

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 159
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 makes available the office space, equipment, personnel and facilities required to provide such services. The Trust Administrator also facilitates the instruction to transfer SOL required for the operation of the Trust.

The Trust Administrator must exercise reasonable care in its duties. The Trust Administrator must minimize service interruptions and have business continuity plans in place. The Trust Administrator and its affiliates and suppliers are not liable to the Trust, any employee or other service providers for any error of judgement, mistake of law, fraud or misconduct, including losses resulting from mechanical breakdowns or the failure of communication or power supplies beyond the Trust Administrator’s reasonable control, except in cases of bad faith, gross negligence, or willful misconduct in the performance of its duties.

The Trust must indemnify the Trust Administrator for claims arising from actions taken in accordance with the Administration Agreement, except for those resulting from the Trust Administrator’s refusal to comply with the Administration Agreement or its misconduct in the performance of its duties thereunder.

Neither the Trust or the Trust Administrator is liable for special, indirect, or consequential damages, loss of profits or goodwill or delays due to circumstances beyond their control.

The SOL Custodian

Coinbase Custody serves as our qualified digital asset custodian for purposes of Section 206(4)-2(d)(6) under the Advisers Act. On [●], the Trust entered into the Custodian Agreement.

Coinbase Custody is a wholly-owned subsidiaries of Coinbase Global, Inc. (“Coinbase Global”). Coinbase Global and its subsidiaries provide end-to-end financial infrastructure and technology for the crypto-economy. Coinbase Custody is an independently capitalized New York State limited purpose trust company that was chartered in October 2018. Coinbase Custody is a fiduciary under § 100 of the New York Banking Law and is add qualified custodian for purposes of Section 206(4)-2(d)(6) of the Advisers Act. As a New York State limited purpose trust company, Coinbase Custody is subject regulation, examination and supervision by the NYDFS. NYDFS’s regulations impose various compliance requirements, including operational limitations related to the nature of digital assets held under custody, capital requirements, U.S. Bank Secrecy Act (“BSA”) and anti-money laundering program requirements, affiliate transaction limitations, and notice and reporting requirements. Coinbase Custody offers its clients access to secure, institutional-grade offline digital asset storage. As of December 31, 2024, Coinbase Global held approximately $404 billion in fiat and digital assets on its platform, the majority of which were comprised of Bitcoin, Ethereum and