Risks and Uncertainties |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risks and Uncertainties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risks and Uncertainties | 6. Risks and Uncertainties
Substantially all the Trust’s assets are holdings of solana, which creates a concentration risk associated with fluctuations in the price of solana. Accordingly, a decline in the price of solana will have an adverse effect on the value of the Shares of the Trust. The trading prices of solana have experienced extreme volatility in recent periods and may continue to fluctuate significantly. Extreme volatility in the future, including substantial, sustained, or rapid declines in the trading prices of solana, could have a material adverse effect on the value of the Shares and the Shares could lose all or substantially all of their value. Factors adversely impacting the value of solana and the Shares may include an increase in the global solana supply or a decrease in global solana demand; market conditions of, and overall sentiment towards, the crypto assets and blockchain technology industry; trading activity on crypto asset exchanges, which, in many cases, are largely unregulated or may be subject to manipulation; the adoption of solana as a medium of exchange, store-of-value or other consumptive asset and the maintenance and development of the open-source software protocol of the Solana network, and their ability to meet user demands; manipulative trading activity on crypto asset exchanges, which, in many cases, are largely unregulated; and forks in the Solana network, among other things. Coinbase Custody Trust Company, LLC serves as the Trust’s custodian for solana for which qualified custody is available (the “Solana Custodian”). The Solana Custodian is subject to change in the sole discretion of the Sponsor. Temporary differences in the quantity of solana held by the Solana Custodian from the amounts reflected in the financial statements may occur. These differences are due to pending settlement of solana trades with the Solana Custodian, which generally occurs within two business days of the trade date. Payable for solana purchased represents the quantity of solana purchased for the creation of Shares where the solana has not yet settled.
Receivable for solana sold represents the quantity of solana sold for the redemption of Shares where the solana has not yet been settled.
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