VanEck submitted an application to the SEC for a JitoSOL exchange-traded fund, tracking the price of a Solana liquid-staking token. Staking involves locking up crypto for network security. The Jito Foundation sees a clear path for staked crypto ETFs, with the JitoSOL fund being the first spot Solana ETF. Regulators have recently allowed staking-based activities in ETFs.

Solana was trading at $199, up almost 10% in the last 24 hours. The SEC’s rulings in May and August favored liquid staking as non-securities, enabling their inclusion in ETFs. The Jito Foundation sees this as a compliant path for ETF sponsors to use Liquid Staking Tokens (LSTs). The Securities Commission’s approval of in-kind creations and redemptions for crypto ETFs further boosts this space.

VanEck’s application for a JitoSOL ETF follows REX-Osprey’s integration of staking rewards into its Solana ETF. This move aligns with the increasing interest in staked crypto ETFs. Solana’s recent performance, with 100K transactions per second, showcases its network capabilities and potential for growth.

Read more at Yahoo Finance: VanEck Files to Launch ETF With Jito’s Liquid-Staked Solana Tokens