Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 140

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 140
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aking Provider will not have any control over the Trust’s staked SOL other than to stake or un-stake SOL at the direction of the Sponsor. In particular, the Staking Provider will not be authorized to leverage or rehypothecate the Trust’s SOL tokens. The Staking Provider will also not be able to change the designated wallet addresses on the Solana Network to which staked SOL is to be withdrawn or to which Staking Consideration shall be sent.

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In addition, the proposed staking arrangements will not alter the Trust’s current custody environment or security procedures. The Sponsor expects that the staking arrangements will serve as an addendum to the Custodial Services Agreement between the Trust and the SOL Custodian, and the controls currently in place between the Sponsor and the SOL Custodian will also govern the activities related to staking and un-staking SOL, as outlined in the staking arrangements. These controls and procedures include:

| ● | Private                                                                                                                            
 Key Management (“Shares”): The SOL Custodian manages SOL for the Trust using vault storage, which means                            
 that the wallet private keys to the Trust’s SOL are not online and accessible via the internet. Transfers                          
 from the Trust’s wallet require compliance with certain security procedures that will remain in place when the Trust’s             
 SOL is staked, including but not limited to, multiple encrypted private key “shares,” usernames, passwords and                     
 2-step verification. Multiple private key shares held by the SOL Custodian must be combined to reconstitute the wallet             
 private key to sign any onchain funds transaction and transfer the Trust’s assets. Private key shares are distributed              
 geographically in secure vaults around the world, including in the United States. The SOL Custodian’s system architecture requires 
 the involvement of the Sponsor to reconstruct the wallets private keys and access the Trust’s assets, and it is not                
 possible for the SOL Custodian’s employees to access the Trust’s assets without the Sponsor’s involvement and approval.            
 This architecture is part of the SOL Custodian’s service organizational controls (“SOC”) Type I and Type II reports,               
 which are authored by leading assurance providers to confirm to the SOL Custodian’s clients that the SOL Custodian is compliant    
 with a variety of security and reporting standards, and which are delivered to the Sponsor for review on an annual basis.          |

| ● | General                                                                                                                         
 Controls on the SOL Custodian’s Custody Environment: Data related to transaction activity executed on the SOL Custodian’s       
 platform is