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5d ago

VanEck Files S-1 for JitoSOL-Backed Spot Solana ETF

The application leans on fresh SEC staff guidance placing protocol staking plus certain liquid staking outside securities rules.

VanEck’s JitoSOL ETF: A game-changer for Solana DeFi adoption?
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Overview

  • VanEck submitted the filing on Aug. 22 for a spot fund tied to JitoSOL, a Solana liquid staking token that represents staked SOL and rewards.
  • The move is reported as the first U.S. spot ETF proposal fully backed by a liquid staking token rather than the base asset.
  • The SEC’s Division of Corporation Finance issued staff statements on May 29 and Aug. 5 saying protocol staking and certain liquid staking activities do not involve the offer and sale of securities.
  • The Jito Foundation said the filing follows months of outreach, including a Feb. 5 meeting with the SEC’s crypto task force to discuss permitting staking within ETFs.
  • SOL rose more than 8.5% intraday on the news, while Jito’s native token logged roughly a 10% weekly gain, as the proposal now enters standard SEC review.