Item 5. Market for Registrant’s Common Equity
Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
The
Shares of the Trust are listed in the accompanying table. The date the Shares of the Trust began trading, their symbols and their primary
listing exchange are indicated below:
Trust
Commencement
of Operations
Ticker
Symbol
Name
of each exchange on which registered
Canary
Marinade Solana ETF
November
17, 2025
SOLC
The
Nasdaq Stock Market, LLC
As
of February 25, 2026, there were approximately 25 DTC participating Shareholders of record of the Trust. Because the Trust’s Shares
are held by brokers and other institutions on behalf of Shareholders, we are unable to estimate the total number of Shareholders represented
by these record holders.
The
Trust made no distributions to Shareholders during the period ended December 31, 2025. The Trust has no obligation to make periodic distributions
to Shareholders.
a)
On November 17, 2025, Canary Capital Group Inc., purchased 10,000 Shares at a per-Share price of $25 (“Seed Shares”)
in a transaction exempt from registration under Section 4(a)(2) of the 1933 Act. Total proceeds to the Trust from the sale of the Seed
Shares was $250,000. The Trust’s Shares began trading on the Exchange on November 18, 2025 and since that date, through December
31, 2025 (excluding any redemptions), the Trust sold 80,000 Shares for aggregate proceeds of $2,085,701, including the Seed Shares.
b) Not
applicable.
c) There
were no redemptions during the period from inception on November 17, 2025, through December
31, 2025.
Item
6. [Reserved]
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