21Shares Solana ETF filings document the Trust's exchange-traded share structure and material agreements supporting creation and redemption activity. The 8-K record identifies TSOL common shares of beneficial interest on the Cboe BZX Exchange and discloses authorized participant procedures for Baskets, delivery of solana, in-kind creation and redemption orders, the role of 21Shares US LLC as Sponsor, and emerging growth company status.
21Shares Solana ETF filed a prospectus supplement that adds its first Form 10-Q, covering the short period from its initial seed creation on September 17, 2025 through September 30, 2025, to its existing prospectus. The Trust reported net assets of $100 backed by 0.5000 SOL valued at $104 and cash and payables that offset to leave no net income for the period. The Sponsor seeded the vehicle with 2 Shares at $50.00 per Share, then later added a 20,000-Share Seed Creation Basket before trading began. The ETF tracks SOL via a benchmark rate, charges a 0.21% annual sponsor fee, plans to stake a substantial portion of its SOL holdings, and had 5,970,000 Shares outstanding as of December 1, 2025.
21Shares Solana ETF reported that it has entered into a new authorized participant agreement with Macquarie Capital (USA) Inc.. Under this agreement, Macquarie can create and redeem blocks of 10,000 shares, called “Baskets,” and the process can involve in-kind delivery of solana rather than only cash. The agreement also permits the Sponsor, 21Shares US LLC, to charge a transaction fee on each creation or redemption order and includes indemnification of Macquarie and certain affiliates by the Trust in specified circumstances.
The Trust also stated that, beginning in 2026, it intends to pay cash distributions at least quarterly to shareholders to distribute staking rewards earned by the Trust. Any distribution will depend on the staking rewards actually earned, which in turn will vary with factors such as the amount of solana held and staked, network participation, reward rates on the Solana network, and overall network conditions. The Trust emphasized that there is no assurance any particular amount will be distributed in a given quarter, and some quarters may see no distributions; timing of any distributions will be announced via press release.