VanEck Launches Non-Custodial Staking for Solana ETNs in Europe
On October 21, COINOTAG reported a significant development in the cryptocurrency sector as VanEck, a prominent asset management firm, announced the launch of staking for its Solana exchange-traded notes (ETNs) in Europe. This initiative introduces a non-custodial staking mechanism, which ensures that the custodian retains complete control over the pledged assets, effectively mitigating any lending risks associated with traditional staking methods. Investors in the Solana ETN will automatically benefit from staking rewards, as these will be incorporated into the token equity of the ETN without requiring any action on their part. Notably, all staking rewards distributed from the previous period will be shared equally among investors, subject to a 25% staking fee deduction. VanEck has strategically positioned itself in the crypto landscape by delegating SOL tokens to validators while retaining custodian control, thereby enhancing investor confidence in this innovative product.