As Solana attracts institutional interest, Osprey prepares the SOL Fund

• Osprey Funds is preparing a private SOL fund for high-net-worth individuals, indicating rising institutional interest in the Solana network’s thriving native coin
• The trust looks to be the United States’ first private SOL investment entity. It comes as a rising number of investors show an interest in Solana, whose SOL coin has increased by more than 4,500% this year
• Wall Street types may acquire exposure to crypto values without actually holding the underlying tokens via trust products like Ospreys

Osprey Funds is preparing a private SOL fund for high-net-worth individuals, indicating rising institutional interest in the Solana network’s thriving native coin. The Osprey Solana Trust, which was registered with US securities authorities on Tuesday, had no sales as of press time. Retail traders are now barred from participating since it is only available to accredited investors. That might, however, change. Osprey is seeking approval for its Solana Trust to trade on the same over-the-counter platform as its bitcoin (BTC, -2.42 percent) trust. The US Securities and Exchange Commission regulates Osprey Solana Trust, which is incorporated in the state of Delaware. Their fiscal year finishes on December 31st in terms of financial reporting. 

The trust looks to be the United States’ first private SOL investment entity. It comes as a rising number of investors show an interest in Solana, whose SOL coin has increased by more than 4,500% this year. Its value has roughly doubled in the previous week, and it now has a market capitalization of over $20 billion. According to SEC documents, Osprey has been working on its own Solana trust since at least mid-June. Grayscale had hinted that its own Solana fund was in the works the day before.

Wall Street types may acquire exposure to crypto values without actually holding the underlying tokens via trust products like Ospreys. Instead, they entrust their money to an investment vehicle that buys and holds their investments for them – generally for a charge. According to the documents seen by CoinDesk, Osprey would not begin charging a 2.5 percent management fee until 2023, indicating the competitiveness of institutional crypto products. The theorem is the administrator, and Coinbase is in charge of custodial obligations.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.