GSOL Grayscale Solana Staking ETF

The Amendment amends and restates in its entirety the Second Amended and Restated Declaration of Trust and Trust Agreement (the “Trust Agreement”), dated as of September 19, 2025, as amended by Amendment No. 1 dated as of October 27, 2025, Amendment No. 2 dated as of January 2, 2026 and Amendment No. 3 dated as of June 25, 2026 to the Second Amended and Restated Declaration of Trust and Trust Agreement, effective as of August 6, 2026, to, among other things, (i) provide for the Trust to commence regular distributions of the net cash proceeds of staking rewards to Shareholders, by requiring the Trust to reduce the Staking Consideration held by the Trust to cash no less often than quarterly and to promptly distribute the cash proceeds, net of any Trust expenses not assumed by the Sponsor (including, for example, paying a portion of the Staking Consideration to the Sponsor as consideration …

On or around August 7, 2026 (the “Effective Date”), Grayscale Investments Sponsors, LLC (the “Sponsor”), as sponsor of Grayscale Solana Staking ‎ETF (the “Trust”), intends to enter into the Third Amended and Restated Declaration of Trust and Trust Agreement (the “Proposed Amendment”) among CSC Delaware Trust Company, the trustee (the “Trustee”) of the Trust, which will amend and restate in its entirety the Second Amended and Restated Declaration of Trust and Trust Agreement, dated September 19, 2025, as amended (the “Trust Agreement”). … The Proposed Amendment would amend and restate the Trust Agreement, effective as of the Effective Date, to, among other things, (i) provide for the Trust to commence regular distributions of the net cash proceeds of staking rewards to Shareholders, by requiring the Trust to reduce the Staking Consideration held by the Trust to cash no less often than qua…

Effective as of the date of this Prospectus Supplement, the Sponsor is reducing the Sponsor’s Fee and the Sponsor’s Staking Fee applicable to the Trust from 0.35% to 0.19% and from 23% to 7%, respectively. … In addition, all references in the Prospectus to the Sponsor’s Staking Fee of 23% are deleted and replaced with a Sponsor's Staking Fee of 7%. … The sections of the Prospectus captioned “Prospectus Summary,” “Trust Expenses,” “Business - Expenses; Sales of SOL,” “Description of the Shares - Staking,” “Glossary of Defined Terms,” and all other references to the Sponsor’s Fee or Sponsor’s Staking Fee shall be read in accordance with the foregoing revisions.

The Sponsor, on behalf of the Trust, and the Transfer Agent have entered into or amended one or more Participant Agreements to provide for in-kind creations and redemptions and, as such, the Trust will now also create and redeem Shares via in-kind transactions with Authorized Participants or their designees in exchange for SOL. The Sponsor may engage additional Authorized Participants in the future, and such Authorized Participants may be able to conduct creations and redemptions in-kind, in cash, or both. … Effective as of the date of this Prospectus Supplement, the following sentence and all references to the Trust not being able to create and redeem Shares via in-kind transactions with Authorized Participants are deleted in their entirety. … “The Trust is not at this time able to create and redeem shares via in-kind transactions with Authorized Participants.”

The purpose of this Supplement is to provide certain updates with respect to the Sponsor Fee and the fees with respect to Staking. … The following replaces the sixth paragraph under the caption “Prospectus Summary - Staking - Staking Arrangements and Provider-Facilitated Staking Model” on page 4 of the Prospectus. … As of the date of this prospectus and pursuant to the Staking Arrangements, the Custodian and the Staking Provider are entitled to receive a portion of the gross Staking Consideration generated under the Staking Arrangements, reflecting the Custodian’s fee and the Staking Provider’s share of such Staking Consideration, with the remainder received by the Trust. In addition, pursuant to the Trust Agreement and as consideration for the Sponsor’s facilitation of Staking, the Sponsor is permitted to receive a fee equal to a portion of the Staking Consideration, payable in SOL (or,…