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
Market
Information
The
Shares are listed on the Exchange under the symbol “TSOL” and have been listed since November 18, 2025.
Holders
As of December 31, 2025, there was approximately one DTC participating
shareholder of record of the Trust. Because most of 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.
Sales
of Unregistered Securities and Use of Proceeds of Registered Securities
On September 17, 2025, the Sponsor, in its capacity as Seed Capital
Investor, subject to conditions, purchased two Shares at a per-Share price of $50.00 (the “Initial Seed Shares”). Total proceeds
to the Trust from the sale of the Initial Seed Shares were $100. Such sale was made in a private placement exempt from registration in
reliance on Section 4(a)(2) of the Securities Act in a transaction by an issuer not involving a public offering. Delivery of the Initial
Seed Shares was made on September 17, 2025.
On October 1, 2025, the Sponsor,
in its capacity as Seed Capital Investor, purchased Baskets comprising 20,000 Shares (the “Seed Creation Baskets”). The total
proceeds to the Trust from the sale of the Seed Creation Baskets were $439,859.
Proceeds
received by the Trust from the issuance of Baskets consist of SOL. Such deposits are held by the SOL Custodians on behalf of the Trust
until (i) delivered out in connection with redemptions of Baskets; or (ii) transferred or sold by the Sponsor, which may be facilitated
by the SOL Custodians, to pay fees due to the Sponsor and Trust expenses and liabilities not assumed by the Sponsor.
The
Trust does not purchase Shares directly from its Shareholders. In connection with the Trust’s redemption of Creation Baskets held
by Authorized Participants, the Trust redeemed 806 Creation Baskets (comprising 8,060,000 Shares) during the quarter ended December 31,
2025. The following table summarizes the redemptions by Authorized Participants during the period:
Period
Total
Shares Redeemed
Average
Price Per Share
Maximum
number of
shares that
may yet be
purchased
October 1, 2025 - October 31, 2025
-
$ -
N/A
November 1, 2025 - November 30, 2025
2,400,000
$ 14.32
N/A
December 1, 2025 - December 31, 2025
5,660,000
$ 13.38
N/A
Item
6. [Reserved]
68
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.