Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
(a) On September 10, 2025, FMR Capital, Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, purchased one Share at a per-Share price of $25 (the “Seed Share”) in a transaction exempt from registration under Section 4(a)(2) of the Securities Act of 1933 (the “Securities Act”). Delivery of the Seed Share was made on September 10, 2025. Total proceeds to the Trust from the sale of the Seed Share were $25. On September 24, 2025, the Seed Share was redeemed for cash, and the Seed Capital Investor purchased 200,000 Shares at a price of $25 (the “Seed Baskets”) in a transaction exempt from registration under Section 4(a)(2) of the Securities Act. Total proceeds to the Trust from the sale of the Seed Baskets were $5.0 million. On September 24, 2025, the Trust purchased 23,402 SOL with the proceeds of the Seed Baskets.
(b) Not applicable.
(c) None .
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Not Applicable.
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