VanEck files with the SEC to launch the VanEck JitoSOL ETF, holding only JitoSOL, a liquid staking token issued by Jito Network. This move could expose investors to Solana’s staking yields through a regulated product, testing the SEC’s stance on staking. VanEck previously launched spot Bitcoin and Ether ETFs.

Jito Labs and Jito Foundation urge the SEC to allow liquid staking tokens like JitoSOL in exchange-traded products. Liquid staking tokens spread stake across validators, making staking more efficient. SEC guidance suggests staking generally falls outside securities laws, including liquid staking. However, SEC staff statements are not binding rules.

SEC has evolved its stance on staking, charging Kraken in 2023 for an unregistered staking program and suing Coinbase. The agency shaped staking policy through ETF approvals, requiring removal of staking references in spot Ether ETFs. Ether ETFs launched last year do not engage in staking, following SEC requirements.

Read more at Cointelegraph: VanEck files first US liquid staking ETF with JitoSOL