Osprey Solana Trust filed an S-1 to register an indeterminate number of Shares for continuous issuance, with plans to list on Cboe BZX under the symbol “OSOL” after effectiveness. The Shares provide exposure to SOL held by the Trust, less expenses and liabilities.
Creations and redemptions occur only in Baskets of 10,000 Shares via Authorized Participants, in exchange for SOL or cash. When cash is used, unaffiliated third-party liquidity providers deliver or receive SOL. Proceeds to the Trust consist of SOL in-kind and cash tied to creations and redemptions. NAV is based on the CME CF Solana – Dollar Reference Rate – New York Variant at 4:00 p.m. ET, and an intraday indicative value is disseminated every 15 seconds during regular trading hours.
The Trust may stake SOL at the Sponsor’s discretion; staking rewards are earned in SOL and paid to the Sponsor. Coinbase Custody serves as SOL custodian, and U.S. Bank is cash custodian. The Trust is not registered under the Investment Company Act, and the Sponsor believes it is not a commodity pool. Key risks highlighted include SOL price volatility, regulatory uncertainty, premiums/discounts versus NAV, operational dependencies on service providers, and staking-related risks.