The Solana Token Trust is a passive exchange-traded fund that trades on Cboe BZX Exchange and issues shares designed to track the price of SOL, the native token of the Solana blockchain, as measured against a CME pricing benchmark. The Trust holds SOL in cold storage maintained by three custodians and does not actively manage its holdings or use leverage or derivatives. The Trust generates revenue through a unitary annual management fee of 0.21% of net asset value paid in SOL to its Sponsor, which covers operating expenses including custody, administration, and compliance, and additionally retains 10% of staking rewards from staking 70–90% of its SOL holdings through specialized providers, with the remainder distributed to shareholders quarterly.