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$GSOL
·
S-1/A
Grayscale Solana Staking ETF · Sep 26, 4:48 PM ET
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Grayscale Solana Trust (SOL) S-1/A
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Contents
88
ARTICLE IDEFINITIONS; THE TRUST
SECTION 1.1 Definitions.
SECTION 1.2 Name.
SECTION 1.3 Delaware Trustee; Offices.
SECTION 1.4 Declaration of Trust.
SECTION 1.5 Purposes and Powers.
SECTION 1.6 Tax Treatment.
SECTION 1.7 Legal Title.
ARTICLE IITHE TRUSTEE
SECTION 2.1 Term; Resignation; Removal.
SECTION 2.2 Powers.
SECTION 2.3 Compensation and Expenses of the Trustee.
SECTION 2.4 Indemnification.
SECTION 2.5 Successor Trustee.
SECTION 2.6 Liability of Trustee.
SECTION 2.7 Reliance; Advice of Counsel.
SECTION 2.8 Payments to the Trustee.
ARTICLE IIISHARES; CREATIONS AND ISSUANCE OF CREATION BASKETS
SECTION 3.1 General.
SECTION 3.2 Offer of Shares; Procedures for Creation and Issuance of Creation Baskets to Persons Other than Authorized Participants.
SECTION 3.3 Offer of Shares; Procedures for Creation and Issuance of Creation Baskets to Authorized Participants.
SECTION 3.4 Book-Entry System.
SECTION 3.5 Assets of the Trust.
SECTION 3.6 Liabilities of the Trust.
SECTION 3.7 Distributions.
SECTION 3.8 Voting Rights.
SECTION 3.9 Equality.
ARTICLE IVTRANSFERS OF SHARES
SECTION 4.1 General Prohibition.
SECTION 4.2 Restricted Securities.
SECTION 4.3 Transfer of Shares Generally.
ARTICLE VREDEMPTIONS
SECTION 5.1 Availability of Redemption Program.
SECTION 5.2 Redemption of Redemption Baskets.
SECTION 5.3 Other Redemption Procedures.
ARTICLE VITHE SPONSOR
SECTION 6.1 Management of the Trust.
SECTION 6.2 Authority of Sponsor.
SECTION 6.3 Obligations of the Sponsor.
SECTION 6.4 General Prohibitions.
SECTION 6.5 Liability of Covered Persons.
SECTION 6.6 Fiduciary Duty.
SECTION 6.7 Indemnification of the Sponsor.
SECTION 6.8 Expenses and Limitations Thereon.
SECTION 6.9 Voluntary Withdrawal of the Sponsor.
SECTION 6.10 Litigation.
SECTION 6.11 Bankruptcy; Merger of the Sponsor.
ARTICLE VIITHE SHAREHOLDERS
SECTION 7.1 No Management or Control; Limited Liability; Exercise of Rights through an Authorized Participant.
SECTION 7.2 Rights and Duties.
SECTION 7.3 Limitation of Liability.
SECTION 7.4 Derivative Actions.
SECTION 7.5 Appointment of Agents.
SECTION 7.6 Business of Shareholders.
SECTION 7.7 Authorization of Filings.
ARTICLE VIIIBOOKS OF ACCOUNT AND REPORTS
SECTION 8.1 Books of Account.
SECTION 8.2 Annual Updates, Quarterly Updates and Account Statements.
SECTION 8.3 Tax Information.
SECTION 8.4 Calculation of NAV.
SECTION 8.5 Maintenance of Records.
ARTICLE IXFISCAL YEAR
SECTION 9.1 Fiscal Year.
ARTICLE XAMENDMENT OF TRUST AGREEMENT; MEETINGS
SECTION 10.1 Amendments to the Trust Agreement.
SECTION 10.2 Meetings of the Trust.
SECTION 10.3 Action Without a Meeting.
ARTICLE XITERM
SECTION 11.1 Term.
ARTICLE XIITERMINATION
SECTION 12.1 Events Requiring Dissolution of the Trust.
SECTION 12.2 Distributions on Dissolution.
SECTION 12.3 Termination; Certificate of Cancellation.
ARTICLE XIIIMISCELLANEOUS
SECTION 13.1 Governing Law.
SECTION 13.2 Provisions In Conflict With Law or Regulations.
SECTION 13.3 Counsel to the Trust.
SECTION 13.4 Merger and Consolidation.
SECTION 13.5 Construction.
SECTION 13.6 Notices.
SECTION 13.7 Counterparts; Electronic Signatures.
SECTION 13.8 Binding Nature of Trust Agreement.
SECTION 13.9 No Legal Title to Trust Estate.
SECTION 13.10 Creditors.
SECTION 13.11 Integration.
SECTION 13.12 Goodwill; Use of Name.
SECTION 13.13 Alternative Procedures for Creation and Redemption.
SECTION 13.14 Corporate Transparency Act.
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