21Shares Solana ETF 8-K

What Happened

• Item 1.01 — On February 4, 2026, 21Shares Solana ETF (the “Trust”, TSOL) entered into staking services agreements with Figment Inc. (Ontario) and Twinstake Ltd. (Cayman). Figment will perform staking and report staking rewards calculations to the Trust; Twinstake will provide a non-custodial staking system, validator nodes to delegate SOL and support certain network upgrades. Both managers are paid from staking rewards (generally expected to be a low single-digit percentage of rewards).

Key Details

• Effective date: February 4, 2026.
• Compensation: Each provider is expected to receive a low single-digit percentage of staking rewards (paid from generated rewards).
• Termination: Figment or the Trust may terminate the Figment Agreement at any time; Twinstake can terminate on 90 days’ notice (Trust may terminate immediately if it has no assets delegated).
• Liability limits: Figment’s aggregate liability is capped at service fees collected during the six months before an event (Global and Slashing Caps); missed rewards cap looks back three months. Twinstake’s total liability is capped at service fees paid by the Trust in the prior 12 months. Caps do not apply where slashing or losses result from a provider’s gross negligence, fraud or willful misconduct.

Why It Matters

• These agreements let the Trust delegate SOL to third-party staking providers to earn on-chain rewards, potentially increasing returns for holders of TSOL.
• Staking is subject to Solana’s bonding/unbonding periods, during which delegated SOL and rewards may be unavailable; providers are not required to act on tokens subject to those network-imposed restrictions.
• Fees and the providers’ liability caps mean some downside (missed rewards or slashing penalties) may be limited to relatively small recoveries; investors should weigh reward upside against counterparty and network risks.