Overview

• VanEck submitted an Aug. 22 Form S-1 for a fund that would hold JitoSOL, a token representing staked SOL plus accrued rewards, initiating SEC review.
• The proposal is among the first U.S. ETF bids built entirely on a Solana liquid staking token rather than spot SOL.
• The structure would pass through staking yield to investors while preserving daily creation and redemption using the liquid token design.
• The filing relies on SEC staff statements in May and August clarifying that certain protocol and liquid staking activities are not securities and follows a July decision allowing in-kind operations for crypto ETFs.
• The move follows REX-Osprey’s recent integration of JitoSOL into a Solana staking ETF and arrives as Fidelity, Grayscale and Franklin Templeton pursue staking-enabled Solana products.