VanEck recordsdata for JitoSOL ETF, opening pathway to Solana staking rewards

Uncover the newest tendencies within the NFT house. This article dives into: “VanEck files for JitoSOL ETF, opening pathway to Solana staking rewards”.

The world asset supervisor VanEck has filed an S-1 registration assertion with the US Securities and Exchange Commission(SEC) to launch the VanEck JitoSOL exchange-traded fund (ETF). According to the submitting, this fund will maintain solely JitoSOL, the liquid staking token issued by Jito Network.

The submission marks the primary try and register a US exchange-traded fund backed by a liquid staking token, doubtlessly exposing traders to Solana’s staking yields by way of a regulated product. JitoSOL represents Solana (SOL) locked with validators whereas offering a transferable token that accrues rewards, a course of often known as liquid staking.

The product would lengthen VanEck’s enlargement into digital asset funds, following its spot Bitcoin ETF launched in early 2024 and Ether ETF earlier that yr. Unlike these automobiles, the JitoSOL ETF may check the SEC’s stance on staking.

SEC continues to debate staking

The transfer from VanEck comes after Jito Labs and the Jito Foundation co-authored a letter to the SEC on July 31 urging regulators to allow liquid staking tokens like JitoSOL to be included in exchange-traded merchandise, with assist from VanEck, Bitwise, Multicoin Capital and the Solana Policy Institute.

In the letter, the teams argued that liquid staking tokens present a safer and extra environment friendly technique to combine staking into exchange-traded merchandise (ETPs), spreading stake throughout validators and lowering operational complexity. They pointed to out there SEC steering indicating that almost all types of staking don’t represent securities transactions, framing liquid staking tokens as according to current guidelines.

That steering has are available two elements. In May, the SEC’s workers issued an announcement saying solo and delegated staking usually fall outdoors securities legal guidelines as a result of rewards are set by the protocol quite than a 3rd occasion. 

In August, the company prolonged the view to liquid staking, describing receipt tokens resembling JitoSOL as proof of possession quite than funding contracts — offered the supplier doesn’t exert discretionary management.

Still, the SEC’s feedback are workers statements quite than binding guidelines, which means they don’t carry the pressure of regulation and might be reinterpreted by the Commission or courts. 

The SEC’s posture on staking has advanced significantly from the previous. In February 2023, the company charged crypto trade Kraken with providing an unregistered staking program, leading to a $30 million settlement and the closure of its US staking service. Later that yr, the company sued Coinbase over related allegations. That case was dismissed in February 2025.

Beyond enforcement actions, the SEC has additionally formed staking coverage by way of the ETF approval course of. When the company accepted spot Ether ETFs in May 2024, issuers initially proposed the choice to stake Ether (ETH) held by the funds. The SEC required all references to staking to be eliminated earlier than approving.

US spot Ether ETFs. Source: TradingView

As a end result, the Ether ETFs launched final yr from issuers together with BlackRock, Fidelity, Grayscale, and VanEck maintain ETH solely and don’t interact in staking.

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