Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 136

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 136
---
odian, Cash Custodian or the Authorized Participant’s banks would have the potential to delay settlement of the SOL related to Share redemptions.

Redemption of Baskets – Settlement

Upon the surrender of Shares and the payment of the applicable transaction fee and of any expenses, taxes or charges (such as stamp taxes or stock transfer taxes or fees) by the redeeming Authorized Participant, and the completion of the sale of SOL in exchange for cash by the Trust in connection with a cash redemption order, the Trust will (1) instruct the Prime Execution Agent to deliver from the Trust’s Trading Balance to account of the Authorized Participant or its agent or client, the amount of SOL corresponding to the redeemed Baskets in connection with an in-kind redemption order; or (2) instruct the delivery of cash to the Authorized Participant in connection with a cash redemption order. Shares can only be surrendered for redemption in Baskets.

Suspension or Rejection of Orders and Total Basket Amount

The Sponsor may, in its discretion, suspend the right of creation or redemption, or postpone the redemption settlement date, (1) for any period during which the Listing Exchange is closed other than customary weekend or holiday closings, or trading on the Listing Exchange is suspended or restricted; (2) for any period during which an emergency (for example, an interruption in services or availability of the SOL Custodian, Cash Custodian, Trust Administrator, or other service providers to the Trust, act of God, catastrophe, civil disturbance, government prohibition, war, terrorism, strike or other labor dispute, fire, force majeure, interruption in telecommunications, order entry systems, internet services, or network provider services, unavailability of Fedwire, SWIFT or banks’ payment processes, significant technical failure, bug, error, disruption or fork of the Solana network, hacking, cybersecurity breach, or power, internet, or Solana network outage, or similar event) exists as a result of which delivery, disposal or evaluation of SOL is not reasonably practicable; or (3) for such other period as the Sponsor determines to be necessary for the protection of the Shareholders. For example, the Sponsor may determine that it is necessary to suspend redemptions to allow for the orderly liquidation of the Trust’s assets. If the Sponsor has difficulty liquidating the Trust’s positions, e.g., because of a market disruption event or an unanticipated delay in the liquidation of a position in an over-the-counter contract, it may be appropriate to suspend redemptions until such time as such circumstances