VanEck Files for JitoSOL ETF That May Allow Solana Liquid‑Staking Token Inclusion in Spot ETFs

• First proposed spot Solana ETF backed 100% by a liquid-staking token (JitoSOL)

• Filing leverages recent SEC rulings that staking and liquid staking are not securities, clearing regulatory path.

• Potential for staking rewards to flow to investors with in-kind creation/redemption mechanics; Solana trading near $199 per CoinGecko.

VanEck JitoSOL ETF filing: first Solana ETF fully backed by an LST, clear regulatory path for staked crypto ETFs — read analysis and next steps.

What is the VanEck JitoSOL ETF filing?

VanEck JitoSOL ETF is an S-1 application submitted to the U.S. Securities and Exchange Commission to create an exchange-traded fund that tracks the price of JitoSOL, a liquid-staking token representing staked Solana. The ETF proposal aims to deliver staking rewards to the fund while enabling in-kind creations and redemptions.

How does the SEC guidance on staking affect this ETF filing?

In recent staff determinations in May and August, the SEC clarified that protocol staking and liquid staking do not, by themselves, constitute securities transactions. That clarification reduces regulatory uncertainty for ETF sponsors considering LSTs.

In July, the Securities Commission also approved in-kind creation and redemption mechanics for crypto ETFs. These developments together create a viable compliance path for spot ETFs that include LSTs as underlying assets.

Why does the VanEck JitoSOL ETF matter to investors?

The VanEck JitoSOL ETF could offer investors exposure to Solana with embedded staking rewards via JitoSOL, potentially improving yield versus spot-only ETFs. Because the ETF can be created and redeemed in-kind, sponsors can pass through staking economics with lower friction.

The Jito Foundation stated this proposal represents the first ETF composed entirely of liquid-staking tokens for Solana, marking a milestone for LST integration into mainstream ETF structures.

Today, @vaneck_us filed an S-1 for a @jito_sol ETF. Why is this important? A JitoSOL ETF offers the highest possible yield for investors, as 100% of the fund earns staking rewards with the lowest fees. The ETF can be created and redeemed in-kind, so redemptions can be… — Thomas Uhm (Twitter)

How will the ETF structure capture staking rewards?

By holding JitoSOL directly, the ETF can receive staking rewards embedded in the liquid-staking token’s yield. In-kind creations and redemptions let authorized participants exchange baskets of JitoSOL for ETF shares without forcing on-chain liquidation.

This model reduces fee drag and aims to preserve reward accrual for fund holders, subject to fund terms and operational constraints.

Frequently Asked Questions

Will the SEC approval fully determine ETF launch timing?

SEC filing submission starts the review clock, but final approval and launch depend on the regulator’s review, fund operational readiness, and market conditions. Filing alone does not equal launch.

How can investors monitor staking yield in an LST-backed ETF?

Investors should review the ETF prospectus and periodic reports for yield disclosures. Monitor Jito Foundation statements and fund communications for updates on reward accrual and expense treatment.

Key Takeaways

• Regulatory clarity: SEC staff determinations now treat staking and liquid staking as non-securities, enabling LST use in ETFs.
• Product innovation: VanEck’s JitoSOL filing could be the first spot Solana ETF fully backed by an LST, per Jito Foundation.
• Operational benefits: In-kind creation/redemption can help preserve staking rewards and reduce friction for fund operations.

Conclusion

The VanEck JitoSOL ETF filing marks a notable step in integrating liquid-staking tokens into regulated ETF products. With recent SEC clarifications and approval of in-kind mechanics, sponsors now have a clearer path to offer LST-backed funds. Watch for the SEC review outcome and fund prospectus for definitive operational details.