Grayscale Solana Trust ETF, formerly Grayscale Solana Trust (SOL), is a Statutory Trust. Its investment objective is for the value of the Shares to reflect the value of the SOL held by the Trust. The Trust's purpose is to hold SOL, which are digital assets that are created and transmitted through the operations of the peer-to-peer Solana Network, a decentralized network of computers that operates on cryptographic protocols. The activities of the Trust include issuing Baskets in exchange for SOL transferred to the Trust as consideration in connection with the creations; transferring or selling SOL as necessary to cover the Sponsor's Fee and/or any Additional Trust Expenses; transferring or disposing of SOL to retire Baskets surrendered for redemption; causing the Sponsor to sell SOL on the termination of the Trust, and making distributions of Incidental Rights and/or IR Virtual Currency or cash from the sale thereof, among others. Its sponsor is Grayscale Investments Sponsors, LLC.