VanEck Files for JitoSOL ETF – First Solana Liquid Staking Token Fund
VanEck’s filing for a spot Solana ETF backed by JitoSOL marks a significant shift in crypto ETFs, with liquid staking tokens gaining regulatory clarity from the SEC.
SOL
JITOSOL
Fact Check
The statement is strongly confirmed by all provided evidence. Multiple reputable sources, including Coindesk, Cointelegraph, Reuters, and a primary announcement from the Jito Network, corroborate that VanEck has filed an S-1 application with the U.S. SEC for a JitoSOL ETF. Furthermore, numerous sources (The Block, Benzinga, Cryptopolitan, Jito Network) explicitly and consistently describe this filing as the 'first' of its kind, being a fund backed by a Solana liquid staking token.
Summary
VanEck has filed for a spot Solana ETF backed by JitoSOL, a liquid staking token on the Solana blockchain. This marks the first such ETF to be fully supported by a liquid staking token. The SEC’s clarification on liquid staking as non-security transactions paves the way for more liquid staking-based ETFs. Solana's price surged by 10% following the announcement, nearing $200.
Terms & Concepts
- JitoSOL: A liquid staking token on Solana that represents ownership of staked SOL tokens plus accumulated staking rewards.
- Liquid Staking Token: A cryptocurrency token that represents staked assets while maintaining liquidity, allowing holders to earn staking rewards without locking up their funds.
- Form S-1: A registration statement filed with the SEC that companies must submit before their securities can be offered to the public.