Jakarta, Pintu News – VanEck recently applied to the US Securities and Exchange Commission (SEC) to launch the first exchange-traded fund (ETF) focused on JitoSOL, a token on the Solana (SOL) blockchain.
This initiative marks an important step in providing investors easier access to Solana’s liquid staking market without the need to manage tokens directly.
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JitoSOL is a token that represents SOLs that are staked within the Solana network. The staking process involves locking up SOLs to support the operation of the network, which in turn provides rewards to holders.
Typically, staked tokens cannot be used until they are reopened. However, JitoSOL changes this paradigm by allowing their owners to earn rewards while still being able to use or trade their tokens.
This is known as liquid staking, which provides more flexibility than traditional staking. The ETF proposed by VanEck will track the price of JitoSOL, so the value of the ETF will rise or fall based on the performance of JitoSOL.
This allows investors to buy ETF shares through their regular brokerage account without having to manage a crypto wallet or transact on a crypto exchange.
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VanEck has been working closely with SEC staff for eight months to develop a clear regulatory framework for Liquid Staking Tokens (LST). This effort reflects VanEck’s commitment to ensuring full compliance with existing regulations while also introducing innovative products in the market.
ito Labs’ CEO, Lucas Bruder, and Chief Legal Officer Rebecca Rettig have met with the SEC’s Crypto Task Force to explain how staking and restaking could be integrated in an ETF. Furthermore, the SEC has clarified its view on staking earlier this year, stating that proof-of-stake systems are not considered securities.
Furthermore, the regulator also stated that some liquid staking activities are not considered securities. With this new guidance, the Jito Foundation states that the compliance path for ESG-based ETFs/ETPs is now clear and workable.
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VanEck’s launch of the JitoSOL ETF is expected to pave the way for institutional investors to engage more deeply with the growing blockchain infrastructure.
According to the Jito Foundation, packaging exposure to JitoSOL in regulated products is a significant step towards bridging the gap between emerging blockchain infrastructure and institutional allocators.
This also comes after REX-Osprey launched the Solana staking ETF that uses JitoSOL for rewards. With the Trump administration’s friendlier approach towards crypto ETF applications, the SEC is currently reviewing many crypto ETF applications.
If approved, VanEck’s JitoSOL ETF will be the first US fund fully tied to liquid token staking.
VanEck’s initiative in launching this JitoSOL-based ETF not only marks an advancement in blockchain-based financial products, but also demonstrates an evolution in the acceptance and integration of blockchain technology in the mainstream financial system. Investors now have the opportunity to engage in liquid staking through a safe and organized mechanism, opening up new potential in crypto investment.
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