VanEck Files to Launch ETF With Jito’s Liquid-Staked Solana Tokens

VanEck submitted an software to the U.S. Securities Alternate Fee for a JitoSOL exchange-traded fund, as investor curiosity in staked crypto ETFs continues to develop.

The ETF will observe the worth of JitoSOL, a form of Solana liquid-staking token, or a tokenized asset that serves as a stand-in for an asset that has already been staked on a community.

Staking refers back to the strategy of locking up cryptocurrencies on a blockchain to safe the community in change for rewards, often within the type of tokens.

“With workers steering now on document, the compliance runway for LST-based ETFs/ETPs is evident and actionable, and has resulted within the first ETF [composed] of LSTs,” the Jito Basis mentioned Friday in a weblog publish.

The JitoSOL fund marks the primary proposed spot Solana ETF to obtain 100% backing from a liquid-staking token, based on the Jito Basis’s assertion.



The submitting comes as regulators have loosened their restrictions on the cryptocurrency, significantly in relation to the classification of staking-based actions. In Might and August, the SEC dominated that each protocol and liquid staking don’t qualify as securities transactions—a dedication that allows their inclusion in ETFs.

“That readability opens a compliant path for ETF sponsors to make use of LSTs,” a Jito Basis consultant mentioned within the publish.

The Securities Fee additionally voted in July to green-light in-kind creations and redemptions for crypto ETFs.

This newest software from VanEck additionally comes only a few weeks after issuer REX-Osprey built-in staking rewards into its Solana ETF by way of a partnership with JitoSOL.

Solana was buying and selling at $199 as of writing time, up almost 10% previously 24 hours, based on information supplier CoinGecko.