Capital

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Capital

Note 6: Capital

The Trust is an exchange-traded product. The Trust continuously offers Baskets consisting of Shares to Authorized Participants. The number of outstanding Shares is expected to increase and decrease from time to time as a result of the issuance and redemption of Baskets. The issuance and redemption of Baskets requires the delivery to the Trust or the distribution by the Trust of the amount of SOL or cash represented by the Trust’s NAV of the Baskets being issued or redeemed. The total amount of SOL or cash required for the issuance or redemption of Baskets will be based on the combined net assets represented by the number of Baskets being issued or redeemed.

Shares represent fractional undivided beneficial interests in and ownership of the Trust. Shares issued by the Trust are registered in a book entry system and held in the name of Cede & Co. at the facilities of the Depository Trust Company (“DTC”), and one or more global certificates issued by the Trust to DTC evidences the Shares. Shareholders may hold their Shares through DTC if they are direct participants in DTC (“DTC Participants”) or indirectly through entities (such as broker-dealers) that are DTC Participants.

The Trust made a cash distribution of income generated from its staking activities, with record and payment dates set by the Sponsor in accordance with the rules of the Trust's Exchange. The cash distribution consisted of net staking income after deduction of any Trust expenses.

The following table summarizes the Trust's distributions for the three months ended March 31, 2026:

(Amounts in 000's of US$, except for per share data)
Payment Date	Distribution Per Share		Distribution Amount
February 17, 2026	$	0.06	$	685
	$	0.06	$	685