VSOL VanEck Solana ETF

Who holds it, from every 13F report, and what changed in its prospectus.

13F holders, quarter ending 2026-06-30 13F data can be up to 45 days old

6 institutions reported VSOL: 5 new since 2026-03-31, 4 sold out.

Institution	Shares	Value	vs quarter before	Filed
VAN ECK ASSOCIATES CORP	437K	$4.3M	Added +0.6%	2026-08-14 ↗
GOLDMAN SACHS GROUP INC	298K	$2.9M	New	2026-08-14 ↗
Accurate Wealth Management, LLC	11K	$115K	New	2026-07-15 ↗
SIMPLEX TRADING, LLC	529	$5K	New	2026-08-12 ↗
Parallel Advisors, LLC	480	$5K	New	2026-08-05 ↗
Virtu Financial LLC	18K	$178	New	2026-08-13 ↗

Largest that sold out: Elequin Capital, LP ($1.5M), NORDEN GROUP LLC ($886K), RPO LLC ($713K), JANE STREET GROUP, LLC ($204K).

Prospectus

424B3 filed 2025-11-17 against S-1/A filed 2025-10-27: 1.9% of the text changed, 1 new paragraph, 48 removed. Paragraphs about fees, staking, custody, the index and creations come first. new ↗ · old ↗

Most edited paragraph

The processes of creation and redemption of Shares (which depend on timely transfers of SOL to and by the SOL Custodian and through the Clearing Services) could be disrupted or encounter challenges due to, for example, the price volatility of SOL, the insolvency, business failure or interruption, default, failure to perform, security breach, or other problems affecting the SOL Custodian, in its capacity as SOL Custodian under the Custody Agreement and the provider of Clearing Services under the Clearing Agreement. Authorized Participants and Liquidity Providers, who would otherwise be willing to purchase or redeem Baskets or SOL, as applicable, to take advantage of any arbitrage opportunity arising from discrepancies between the price of the Shares and the price of the underlying SOL, may decide not to take the risk that, as a result of those difficulties, they may not be able to realize the profit they expect, and reduce their transactions with or even refrain entirely from transacting with the Trust, which could disrupt the processes of creation and redemption of Shares. If such events rise to the level of an emergency or cause creations and redemptions of Shares to be impracticable, the Sponsor may suspend the process of creation and redemption of Baskets. Any disruptions to the process of creating and redeeming Shares could cause trading spreads, and the resulting premium or discount, on Shares compared to NAV to widen. Alternatively, in the case of a Solana Network outage or other problems affecting the Solana Network, the processing of transactions on the Solana Network may be disrupted, which in turn may prevent Liquidity Providers, or Authorized Participants or their designees from depositing or withdrawing SOL from their accounts at the SOL Custodian, which in turn could affect the creation or redemption of Baskets. If this is the case, the liquidity of the Shares may decline and the price of the Shares may fluctuate independently of the price of SOL and may fall or otherwise diverge from NAV. Furthermore, in the event that the market for SOL should become relatively illiquid and thereby materially restrict opportunities for arbitraging, the price of the Shares may diverge from the value of SOL.

New

+ The Sponsor could decide to replace the SOL Custodian as the custodian of the Trust's SOL, pursuant to the Custody Agreement. Similarly, the SOL Custodian under the Custody Agreement and Clearing Agreement may

Removed

− vehicles, or private funds holding SOL, could negatively affect the Index, the Trust's SOL holdings, the price of the Shares, the net asset value of the Trust and the NAV.

− The exhibits to this registration statement are listed in the Exhibit Index to this registration statement, which is incorporated herein by reference.

− Exhibit No. Exhibit Description ────────────────────────────────────────────────────────────────────────────────────────────── 3.1 Certificate of Trust** 3.2 Certificate of Amendment** 4.1 Third Amended and Restated Declaration of Trust and Trust Agreement**** 5.1 Opinion of Clifford Chance US LLP as to legality***** 8.1 Opinion of Clifford Chance US LLP as to tax matters***** 10.1 Form of Initial Authorized Participant Agreement* 10.2 Marketing Agreement** 10.3 Gemini Custody Agreement** 10.4 Trust Administration and Accounting Agreement** 10.5 Transfer Agency Agreement** 10.6 Index SubLicense Agreement** 10.7 Cash Custody Agreement** 10.8 Subscription Agreement** 10.9 Clearing Agreement** 10.10 Additional SOL Custodian Agreement** 10.11 Form of Staking Provider Agreement***** 10.12 Seed Capital Investor Agreement* 23.1 Consent of Independent Registered Public Accounting Firm* 23.2 Consent of Clifford Chance US LLP (included in Exhibits 5.1 and 8.1)***** 107 Filing Fee Tables**

− Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement.

− If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box: ☐

− If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering: ☐

− If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

− If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Supplements

Short filings that change the prospectus. Quoted from their first paragraphs.

424B3filed 2026-10-07filing ↗

The purpose of this Supplement is to update the Prospectus to reflect that, beginning in October 2026, the Trust intends to make cash distributions at least quarterly to Shareholders to distribute the net proceeds of staking rewards earned by the Trust in a manner intended to be consistent with Revenue Procedure 2025-31 ("Rev Proc 2025-31"). Except as otherwise set forth below, the information set forth in the Prospectus remains unchanged. … The following supersedes and replaces each sentence in the Prospectus stating that the Trust generally will re-stake staking rewards, including (i) the sentence under the caption “PROSPECTUS SUMMARY - Overview of the Trust” on page 2 of the Prospectus stating, “The Trust will generally re-stake the staking rewards it receives, subject to the target staking percentage,” and (ii) the equivalent sentence under the caption “SOL, SOL MARKET, SOL EXCHANGES…

424B3filed 2026-02-23filing ↗

The calculation agent for the MarketVectorTM Solana Benchmark Rate is MarketVector Indexes GmbH. … Each reference to the “CCData Centralized Exchange Benchmark review report” is replaced with the “BITA Exchange Ranking report”. … The following supersedes and replaces the disclosure under the caption “PROSPECTUS SUMMARY - The MarketVectorTM Solana Benchmark Rate” on page 7 of the Prospectus.

424B3filed 2025-12-03filing ↗

The purpose of this Supplement is to disclose a change in the platform composition of the Index. … Effective November 30, 2025, MarketVector Indexes GmbH, the index sponsor and index administrator for the MarketVectorTM Solana Benchmark Rate (the “Index”), replaced Bitstamp and Bullish with Crypto.com and OKX, respectively, as constituent trading platforms used to calculate the Index. The current platform composition of the Index is Coinbase, Crypto.com, Gemini, Kraken and OKX.