Morgan Stanley Solana Trust Listed Primary

What the company does

The Morgan Stanley Solana Trust is an exchange-traded fund that issues common shares of beneficial interest anticipated to be listed on NYSE Arca, Inc. The Trust seeks to reflect generally the performance of the price of SOL, the native digital asset of the Solana blockchain, and rewards from staking a portion of the Trust's SOL, as measured by the CoinDesk Solana Benchmark 4PM NY Settlement Rate, adjusted for the Trust's expenses and other liabilities. The Trust is a passive investment vehicle that does not seek to generate returns beyond tracking the price of SOL tokens and staking some portion of the SOL it holds. The Trust will not utilize leverage, derivatives or any similar arrangements in seeking to meet its investment objective.

Use of proceeds

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, during which time they may be employed in Staking Activities, until (i) delivered out in connection with redemptions of Baskets or (ii) transferred or sold by the Delegated Sponsor, which may be facilitated by the SOL Custodians to pay fees due to the Delegated Sponsor and Trust expenses and liabilities not assumed by the Delegated Sponsor.

Underwriters

The completed effective-prospectus read stated no underwriters.

Extracted from S-1/A 0001104659-26-083475, filed Jul 14, 2026 and verified against that filing text.

Key risk factors

• High risk of total loss

  “An investment in the Trust involves a high degree of risk.”

• No assurance of profit

  “There is no assurance that the Trust will generate a profit for investors.”