VanEck Files to Launch Staked Solana (SOL) ETF Backed by Liquid Staking Token JitoSOL

Asset supervisor VanEck has filed to launch a staked solana SOL$197.38 exchange-traded fund (ETF), signaling continued curiosity in bringing blockchain-native yield-bearing belongings to conventional funding rails.

The utility, submitted Friday as an S-1 registration with the U.S. Securities and Exchange Commission (SEC), is the primary of two filings required to listing the fund. If accepted, the ETF would maintain JitoSOL, a liquid staking token native to the Solana blockchain. JitoSOL displays possession of SOL tokens which were staked and likewise accrues the staking rewards earned by these tokens.

Unlike conventional ETFs, this product wouldn’t simply monitor the value of SOL but additionally the earnings generated by staking — successfully baking Solana’s yield right into a publicly traded product.

The SEC has been in ongoing discussions with ETF suppliers, together with VanEck, about whether or not staking elements could be built-in into current and proposed crypto funding funds.

Regulatory bottlenecks

Speaking at an business panel in Jackson Hole earlier this week, SEC Chair Paul Atkins stated the Commission is trying to clear regulatory bottlenecks that sluggish innovation.

“There’s a lot of spring cleaning that needs to be done at the SEC,” he stated. “We cannot have things so abstruse that lawyers can’t give opinions to clients.”

Atkins stated the company’s future guidelines ought to be versatile and designed to evolve. He added that the SEC needs to proceed its legacy of adapting to new applied sciences, hinting at a extra open stance towards crypto asset merchandise like liquid staking ETFs.

VanEck joins a variety of asset managers trying to launch a staked solana fund, together with Fidelity, Grayscale and Franklin Templeton.